TL; DR
- The upcoming investment round will place Temple’s valuation between $125 and $130 million, making it one of the largest seed-round valuations.
- For those catching up, Temple is developing a small wearable patch positioned near the side of the head (also called the temple) that will continuously monitor cerebral blood flow in real time.
- By doing so, the device aims to track multiple biomarkers, as high-end wearables from wellness firms do.
It has only been a little over a year since Deepinder Goyal founded a new wearable technology startup called Temple, and the company is already in advanced talks to raise a $50 million seed investment. The venture is negotiating terms with marquee investors, including Steadview Capital, Vy Capital, Info Edge, and Peak XV Partners (formerly Sequoia Capital India).
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Talks Underway for One of India’s Largest Seed Rounds
The upcoming investment round will place the company’s valuation between $125 and $130 million, making it one of the largest seed-round valuations. Goyal himself, along with a group of other Indian founders, is also willing to invest in this seed round, with expected participation from the company’s employees.
Aiming to Monitor Cerebral Blood Flow in Real Time
For those catching up, Temple is developing a small wearable patch positioned near the side of the head (also called the temple) that will continuously monitor cerebral blood flow in real time. By doing so, the device aims to track multiple biomarkers, as high-end wearables from wellness firms do.
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The venture is still in the early research and development phase, although Goyal has recently teased the Temple device as “coming soon.” However, as and when the company gains success in creating a device, it will mark a shift in the wearable technology space from general wellness to real-time brain-health monitoring, a market that remains largely unexplored in India.
Temple’s device could serve as a preventive health tool or a research-grade gadget for neuroscience studies. For now, the $50 million fundraiser comes as a strong vote of confidence in the company and Goyal from prospective investors.
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