Stablecoin company Tether has led a $50 million strategic investment round in sleep technology startup Eight Sleep to help the company integrate artificial intelligence agents into its sleep technology products.
The latest funding round was announced on Tuesday, with Eight Sleep raising $50 million at a valuation of $1.5 billion. This follows a $100 million increase in August last year. The company specializes in healthy sleep products, primarily all bedding and accessories.
In an announcement Tuesday, Teter expressed its strong belief in health technology to support “longevity, efficiency and disease prevention” and will partner with Eight Sleep to bring to market AI-based health technology products.
Tether uses its capital stock to invest in a wide range of industries outside of crypto. Its investments span the gold, media, biotechnology and AI sectors. The company also made several attempts to buy professional football clubs.
“Technologies that can transform continuous health data into clear, actionable insights will shape the future of consumer health and wellness,” Teter said.
“The investment is designed to strengthen Eight Sleep and establish a long-term partnership to build advanced AI-based health technology, leveraging Tether’s QVAC architecture and leveraging QVAC’s edge intelligence to improve Eight Sleep’s products,” he said.
Tether’s QVAC is a health-to-privacy technology service launched in December that allows users to integrate their biometric data from multiple services or products, such as smart rings, into a single platform powered by AI on a local device to help users manage data and understand health.
Eight Sleep said it plans to build a sleep-focused AI agent it will use to support its Pod, a sleep technology product that automatically adjusts bed temperature, height and volume based on factors such as heart rate, breathing, snoring, sleep time and sleep stages.
related to: Stablecoin Buzz Grows as ‘Crypto Philanthropy’ Comes of Age: Report
The Pod already has AI integration to track sleep health data; However, Eight Sleep said the funding will help evolve the company’s current AI tools and capabilities.
“We’ve built the world’s most seamless AI health sensing system, and this partnership with Tether gives us the infrastructure to apply that intelligence beyond the Pod to all aspects of personal health,” Franchetti said as part of Tether’s announcement.
On X, Francechetti elaborated, saying that Eight Sleep is currently building a predictive agent that has been trained on more than 1 billion hours of sleep; meanwhile, it’s also “promoting FDA documentation to detect sleep apnea.”
“Passive. Every night. No wires or visits to the clinic,” he said.
.Magazine: Bitcoin may face difficulties in any attempt to freeze Satoshi coins
