After moving to San Francisco, GraphWear Technologies raises $4.2M Series A - Technical.ly Philly

Business

Apr. 17, 2018 12:38 pm

After moving to San Francisco, GraphWear Technologies raises $4.2M Series A

The Philly-born startup with ties to Dreamit is finding new applications for its technology.
Saurabh Radhakrishnan (left), Meet Vora, Rajatesh Gudibande and Antoine Galand are GraphWear Technologies.

Saurabh Radhakrishnan (left), Meet Vora, Rajatesh Gudibande and Antoine Galand are GraphWear Technologies.

(Courtesy photo)

Right as 2017 was biting the dust, GraphWear Technologies sent out an email with an air of mystery to it.

The newsletter spoke of hustle and of navigating the high tides. It recounted “challenges” and how the company had “weathered through good and bad.”

Beyond the mystery veil, the email to stakeholders also had some news: GraphWear’s move to San Francisco, first thought of as a temporary stint for an accelerator program, had become a permanent one.

Per cofounder Rajatesh Gudibande, the move quickly became key to a second bit of news from the company: GraphWear raised a $4.2 million Series A round led by West Coast VCs Bio Innovation Capital and Mission Bay Capital.

(The SEC documents haven’t been filed yet, but Doug Crawford, a partner at Mission Bay Capital, confirmed the raise to Technical.ly.)

The startup, which was part of the 2015 Dreamit Health cohort and the University City Science Center’s Digital Health Accelerator (DHA), makes a graphene-based sensor technology that can provide biological information from sweat. Initially ideated to provide performance athletes with advanced information, the latest use case in the works for GraphWear is aimed at a needle-free glucose test, expected to hit the market three to four years down the line after the necessary Food and Drug Administration clearances.

Cofounder Saurabh Radhakrishnan, 26, said that while the Philly ecosystem was key to the startups nascent stage, it was in West Coast which yielded the support needed for the long game.

Advertisement

“We needed to stabilize in an area that fostered a long-winded vision,” said Radhakrishnan, who holds a master’s degree from Penn in nanotechnology. “We couldn’t find that on the East Coast.”

The company’s founding duo also shared some of what that “hustle” and “challenges” looked like.

“We lived in a hacker house and worked odd hours out of lab space a former Penn professor let us use,” said Gudibande, 27. “We had to work on this like crazy, in the lab from 5 p.m. to 7 a.m. because that’s the time we had, and then the business side of things started at 9 a.m.”

But, seemingly, the Philly–SF gambit delivered on both counts for the startup: While the West Coast supplied the capital, access to the Philly ecosystem was key to laying down the foundation.

“Looking back on it, I would start the process again in Philly,” said Gudibande. “There you have rationality and concreteness of plans. Plus, the largest community of doctors is there to ask the right questions. We would love to be associated with Philly.”

-30-
CONTRIBUTE TO THE
JOURNALISM FUND

Already a contributor? Sign in here
Connect with companies from the Technical.ly community
New call-to-action

Advertisement

Philadelphia is having its best year for VC deals since 2000

Oncora Medical gets a new partnership and $3M to develop its oncology software

These startups won big money at PACT’s live, ‘Shark Tank’-like pitch event

SPONSORED

Philly

How Relay is helping enterprise clients get proactive about customer engagement

Philadelphia

Inspire

Manager, People Operations

Apply Now

Philadelphia

Linode

Junior Systems Software Engineer

Apply Now

Philadelphia

Linode

Data Center Operations Engineer

Apply Now

You can make a literal elevator pitch to Robin Hood Ventures investors

What’s slowing a wider adoption of impact investing?

Data analytics startup Crossbeam just raised a $12.5M series A

SPONSORED

Philly

These hiring companies want to meet you at NET/WORK Suburbs

Philadelphia

Linode

Systems Engineer

Apply Now

Philadelphia

Linode

Software Development Engineer in Test

Apply Now

Philadelphia

The Philadelphia Inquirer

Interactive Developer

Apply Now

Sign-up for daily news updates from Technical.ly Philadelphia

Do NOT follow this link or you will be banned from the site!