Hong Kong fitness wearables startup Silentmode raises $1m in pre-series A funding

Silentmode, a Hong Kong-based company that develops fitness-centered wearable gadgets, said it has secured US$1 million in its pre-series A fundraise.

Investors in the new round include social impact group SAVEarth fund, Hong Kong tech incubator Brinc, and private angel backers, according to a statement.

Photo credit: Silentmode

Founded in 2016, Silentmode is a tech wear company that develops tools designed to eliminate stress. The company said that its flagship product Powermask combines breathing workouts, blackout experiences, and audio therapy to help improve heart rate and decrease high blood pressure.

In addition to the funding round, Silentmode announced the launch of Breathonics, a mobile app that gamifies meditation while monitoring real-time biometrics. The company aims to capitalize on the growing wellness industry, which was already valued at around US$4.2 trillion before the Covid-19 crisis.

“The on-demand digital wellness industry has seen fast growth in 2020 and there’s an increasing need to help everybody reach their peak performance through mind and body workouts which support a preventive health lifestyle,” said Silentmode CEO Bradley Dowding-Young.

According to the Global Wellness Institute, there has been a surge in online wellness services this year as people look to boost their immune systems to fight Covid-19 and to forge human connections amid ongoing lockdowns. This growth is also expected to continue even beyond the pandemic due to the benefits of on-demand and at-home services.

Dowding-Young says that Silentmode has been profitable for a year now and is on track to log a 110% growth in earnings year-on-year in 2020. “This round allows us to continue to grow our monthly recurring revenue numbers without impacting the revenue from hardware, which continues to grow,” he added.