# Quitbit

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/quitbit

- Industry: Consumer Products
- Headquarters: Boston, US
- Website: www.quitbitlighter.com
- Total disclosed funding: $0.2M
- Latest round: Seed (Jan 23, 2014)
- Investors on record: 2

## About

Quitbit is a technology-driven company focused on creating innovative products that aid smokers in their journey to quit smoking, enhancing user experience through modern design and functionality.Quitbit, founded in 2013, is based in Boston, US, specializing in smart lighters designed to help users reduce and quit smoking. The company's founder, Kuji Nakano, has a history of entrepreneurship, although previous companies are not specified. Quitbit has successfully raised USD 0.05 mn in its SEED funding round from investors HAX and SOSV on April 15, 2015, marking its total amount raised at USD 0.05 mn across 4 different funding deals.Quitbit offers a unique smart lighter that tracks smoking consumption and provides users with insights and encouragement to quit smoking. The lighter is designed with user-friendly features that enhance the quitting process, targeting individuals looking to reduce their smoking habit.Quitbit generates revenue through the sale of its smart lighters, which are priced to appeal to consumers motivated to quit smoking. The business model focuses on direct sales to consumers, with opportunities for recurring revenue through potential future product add-ons and updates.Quitbit plans to develop new features for its smart lighter, enhancing functionality to better support users in quitting smoking. The company is looking to expand its market presence beyond the US, targeting regions with higher smoking rates and increased demand for cessation tools. The recent funding will be utilized to accelerate product development and market entry strategies, with planned releases for new product versions expected by the end of 2016.

## Funding rounds

- Seed, Jan 23, 2014, $0.1M — SOSV, HAX
- Seed, Jan 8, 2014, $0.1M — SOSV

## Investors

- SOSV (https://capitalatlas.ai/funds/sosv) — Seed
- HAX — Seed