NEA leads Series A round for Olio Devices
San Francisco-based watch maker Olio Deviceshas secured $10 million in Series A funding. New Enterprise Associates led the round.
San Francisco – (July 30, 2015) – Today, Olio Devices announces it has closed $10 million in Series A funding led by New Enterprise Associates (NEA). This new funding round will allow Olio Devices to explore new partnerships, develop their product pipeline, expand their team, and support the manufacturing and delivery of their flagship product, the Olio Model One. Due to overwhelming demand for the first release of watches, Olio Devices is also launching a second limited batch, including new premium gold and rose gold collections of the Model One, now available for purchase.
The antithesis of mass-market smartwatches, Olio Devices is a boutique brand laser-focused on creating high-quality products that harness the power of modern technology in an enduring and fashionable wristwatch designed to save users time. Consumers, tech experts and watch enthusiasts alike were quick to show their support, and the March 26 debut of the Olio Model One was received with tremendous praise, with the first batch of devices quickly selling out.