MakuSafe raises $4 million as it begins to deploy its safety technology
West Des Moines-based wearables company MakuSafe announced it has raised a $4 million round of debt financing, bringing its total funding to date to $10.2 million. More than 3/4 of the round came from previous investors including EMC Insurance Companies and Next Level Ventures.
Established in 2016, the company develops a cloud-based safety system and a wearable armband device for gathering real-time environmental and human motion data to identify workplace risk, to improve safety and productivity as well as receive notifications when conditions become unfavorable for workers.
“Our plan for this first year is to get a little bit of product into a lot of companies. Maybe get 100 devices into 70 or 80 companies across the country. If we can provide a really good experience to a lot of different companies and get just a handful of them to scale with us, we’re going to be in really good shape.” – Gabriel Glynn, CEO of MakuSafe.
The company now employs 17 people with plans to reach 20 people throughout the year.