Wearable device startup Fitbit raises $43 million

Fitbit, the San Francisco-based startup that has helped drive the growth of the health and fitness sensing market with its activity tracking devices, has raised $43 million in new venture capital funding. Softbank Capital led the round, joined by existing shareholders Foundry Group and True Ventures, as well as new investors Qualcomm Ventures and SAP Ventures.

In March, TechCrunch reported that Fitbit was looking to raise $30 million at a $300 million valuation. The company previously raised $23 million. Fitbit's latest infusion of capital comes just months before Apple is rumored to be unveiling its iWatch, which may have activity tracking capabilities. Article