Misfit Wearables, the developer of a wearable activity monitor, has raised $15.2 million in funding led by Horizons Ventures. The infusion brings the company’s total backing to $23 million, including a $7.6 million investment in April 2012 that valued the company at $21 million. The new capital will reportedly be used to develop new products slated to launch in 2014.
Founded in 2011, Misfit Wearables recently launched Shine, a compact, “elegant activity monitor” that can be worn with a variety of accessories, including a sport band, leather band or necklace. Shine tracks walking, running, swimming and cycling, and syncs activities to its corresponding smartphone app.