Kryo Raises $1.3M

7/5/17

By Chris Roush, NC BIZ News

A North Carolina company that has developed a unique sleeping system has raised $1.3 million in a private equity offering, according to a filing with the Securities and Exchange Commission.

Kryo Inc. raised the money from four investors, according to the filing. It is seeking to raise another $1.2 million.

The Mooresville-based company was founded by Todd Youngblood, co-founder of Chili Technology and the well-known ChiliPad, and his wife Tara Youngblood.

The Kryo Sleep Performance System uses each individual’s sleep data to optimize sleep through temperature management. The company is targeting athletes, bio-hackers and those who are looking to enhance their overall sleep quality.

The app-controlled smart mattress topper can reach as high as 100 degrees and as low as 60 degrees.

Additionally, the Kryo Sleep Performance System is compatible with fitness trackers. Users can track, control and enhance their sleeping patterns. Kryo can even learn an individual’s sleeping habits and literally warm a user awake.

Companies relying on a Reg D exemption do not have to register their offering of securities with the SEC, but they must file what’s known as a Form D electronically with the SEC after they first sell their securities.

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