Mattress tech supplier Eight Sleep has pulled together a massive pile of cash to advance its artificial intelligence-powered sleep health products.
On Tuesday, the company revealed that it has raised US$100 million in a Series D funding from a group of strategic investors. They included a group of American and Chinese venture capital firms along with Ferrari and McLaren F1 race car drivers Zak Brown and Charles Leclerc. The sleep tech creator has now raised about US$260 million to date and has a valuation close to US$1 billion, thereby nearing unicorn status.
Eight Sleep’s flagship product, Pod, is an AI-integrated biometric monitoring tool that adjusts an individual’s bed to promote ideal rest. It automatically alters temperature, firmness and head elevation to alleviate snoring while collecting valuable sleep data and providing thermal and vibrating alarms, in a nutshell.
“Over 1 billion hours of biometric sleep data distilled into fully autonomous AI that knows your body better than you do,” CEO and co-founder described this week.
“After a decade of research and bringing innovative technologies to market, we’ve codified the key parameters for recovery into an Al model that creates a personal sleep formula as unique as your fingerprint,” he added. “The Pod delivers it automatically, adjusting temperature, sleep position, noise, the wake-up experience and more, while you sleep.”
A portion of the funds will be dedicated to the creation of an AI “Sleep Agent” bot that will interpret data with superior accuracy. It builds on the pre-existing Autopilot feature the company has pioneered. The sum will also be utilized to advance the sleep tech developer’s Chinese expansion.
The US$3,000-dollar mattress cover system has received praise from tech billionaires like Mark Zuckerberg and Elon Musk. The most expensive version costs over US$5,000. Pod sales have generated over half a billion for Eight Sleep since 2019.
“Everyone who uses it says it’s a f$*%ing game changer,” Joe Rogan once said.
Eight Sleep is now hoping to obtain FDA clearance for its technology to enable it to become reimbursable with insurance.
The tech specialist claims it will reduce snoring by 45 per cent, enable 34 per cent more deep sleep, result in 23 per cent less wake ups throughout the night and cause a user to fall asleep 44 per cent faster.
One of its latest features, Hot Flash Mode, is specifically tailored to alleviate menopause symptoms in older women.
The Pod system is comprised of a hydro-powered cover and blanket, ‘The Hub’ power engine to regulate temperature and an adjustable base with integrated speakers. Photo credit: Eight Sleep
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