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Spike secures $700K to support use of wearable data in digital health apps

Photo Credit: Spike

A digital health company will typically integrate four to eight wearables to allow their users to connect the device they use. Developing wearables integrations in-house is costly and resource-intensive; meanwhile, cross-sensor data is complex and dispersed, and making data usable necessitates data engineering headcount and domain-specific knowledge.

Spike, based in Vilnius, Madrid and Palo Alto, Silicon Valley raised $700K in a pre-seed funding. The round was led by Geek Ventures, with participation from CEAS Investments and APX. Angel investors from Austin, Texas, NYC and Silicon Valley also participated in the round. Spike offers an API aggregation and an ETL solution for data from wearables and IoT devices.

“Wearable sensors are becoming much smaller, more accurate, and accessible to a broader user base. Our solution helps digital health companies easily integrate biosensor data, process it, and apply AI models. Developing this tech in-house is complicated, expensive, and resource-heavy. Spike aims to make this data management journey effortless and open opportunities to the next-generation of healthcare and disease prevention,” said Povilas Gudzius, co-founder and CEO.

“Receiving backing from these experts is a vote of confidence for our team and further solidifies our mission, to bring benefits of cross-sensor data fusion to real-life challenges such as improving health”, said Povilas Gudzius.

How does it function?

Spike provides a managed ETL solution and a single consolidated REST API to solve issues, enabling developers to test more than 20 sensors in 24 hours as opposed to six months and gain immediate access to them with no upfront costs. The company manages and updates all vendor licencing and API endpoints on the client’s behalf.

Spike’s team has 6 people which includes Lithuanian/Ukrainian, British, Malaysian/Spanish, Lithuanian x3 (1 southeast asian (17%), the rest are white). The company has only one female in the team at the moment (17%) but it is currently hiring two more.

The three co-founders are all data scientists. While working at Bloomberg, Goldman Sachs, and Twillio, they met. Spike began as a team by developing a B2C app for biohackers, which evolved into a B2B solution.

Digital health apps, such as those for professional fitness, wellness, weight management, nutrition, type 2 diabetes prevention, sleep improvement, female health, longevity, telehealth, autoimmune disease prevention, remote care, mental health apps, and corporate wellness, are currently the company’s main customers.

Founded in 2022 by CEO Povilas Gudzius, Spike, a B2B data technology and artificial intelligence (AI) startup, offers API aggregation, data pipeline management (ETL), and an AI-backed solution. Spike provides clients with services in the areas of automation, professional fitness, insurance, and digital health. Businesses can combine data from commercially available optical, electrical, electrochemical, and electromechanical sensor types using these solutions. These gadgets collect biometric information like blood pressure, heart rate variability (HRV), glucose and cortisol levels, calories, and more. Spike offers AI tools for health-related prediction, recommendation, and prevention while importing these metrics directly into clients’ clouds via a managed ETL service.

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