CUDIS Secures $5M Seed Led by Draper Associates to Challenge Oura Ring in the Wearables Market with Blockchain and AI

[PRESS RELEASE – Los Angeles, California, September 18th, 2024]

Funding will help over 1 million users build healthier habits through incentive rewards and personal AI coaching

CUDIS, the company behind the first Web3 and AI-powered wellness ring, has raised $5 million in a funding round led by Draper Associates, with participation from Skybridge, Penrose, SNZ, Mozaik, NGC, Foresight Ventures, OGBC, Monke Ventures, DraperDragon, Block Patch, and Trinito. Notable individual investors include Sean Carey (Helium & Borderless), Kalin Stoyanchev (Render Network), Andrew Chatham (Dimo), Adam Jin (Solana Foundation), Kel xyz (former Messari Research), Carl Vogel (6th Man Ventures), John Patrick Mullin (Mantra), Qinwen (Lollipop), Amy Leem (Presto).

“Our mission at CUDIS is to empower millions by integrating wearable technology, blockchain, and AI, giving users control over their data and enhancing their wellbeing,” said Edison Chen, CEO of CUDIS. “This funding is a critical step in our journey to set a new standard in wellness technology and directly compete with industry leaders like Oura.”

While nearly one-third of Americans use wearables to track health, fewer than 25% of those at risk for cardiovascular disease participate, despite growing interest in incentives. Studies show that performance-based rewards are more effective than fixed incentives in fostering long-term behavioral changes.

CUDIS leverages blockchain’s unique ability to offer automated, transparent rewards that are better suited for building healthy habits. Gamification makes behavior change easier by awarding points for positive actions and deducting points for missed goals, creating a dynamic feedback loop that encourages consistent engagement. Unlike Oura, which primarily tracks data, the CUDIS ring provides real-time incentives and a personalized AI coach that delivers actionable insights tailored to each user’s wellness journey.

“CUDIS is setting a new benchmark in wellness by leveraging technology to prioritize consumer needs,” said Timothy Draper, founder of Draper Associates. “This innovative approach could redefine how we engage with our health and wellness.”

Since the ring’s official launch in April 2024, CUDIS has quickly scaled, pre-selling over 6,000 rings in more than 50 countries and building a community of 50,000 members. The new funding will enable the delivery of over 1 million rings in the next 18 months, improve the AI coach and gamification features, and strengthen its decentralized infrastructure with open APIs, developer tools, and grants for health innovation.

Anthony Scaramucci, founder of SkyBridge Capital, adds, “CUDIS is leading a transformative shift in wellness, integrating blockchain and AI into daily life, and paving the way for user-driven health innovation.”

CUDIS has also launched the Pro Athlete Ambassador Program at the 2024 Paris Olympics, featuring athletes like Kaitlin Knifton, Patrick Schilz, Naomi Metzger, and Cam Aliabadi.

Users can now sign up and download the CUDIS app for easy access to all biometric data tracked by the smart ring, with enhanced features to support their wellness journey.

About CUDIS:

CUDIS revolutionizes wearable technology by offering comprehensive wellness monitoring and personalized AI coaching, empowering users to own and monetize their health data.

To learn more at: www.cudis.xyz

To follow CUDIS on X | Discord | Instagram

Users can download the app on Apple Store, Play Store, and Solana Mobile.