Temple, a wearable technology startup founded by Deepinder Goyal, has secured $54 million in fresh funding as the entrepreneur looks to scale the venture and expand its user base.
The fundraise comes just weeks after Goyal announced he would step back from day-to-day operations at Eternal to focus more on his other ventures.
Although Goyal did not disclose the names of participating investors, reports earlier indicated that the round saw participation from Steadview Capital, Vy Capital, Info Edge, and Peak XV Partners, among others. Notably, over 30 Temple employees also invested in the round at the same valuation as institutional investors.
“More than 30 Temple employees participated in the round, at par valuation. No discount. Their own money. That’s the kind of belief you can’t buy,” Goyal said in a social media post on February 27.
What does Temple do?
Founded just over a year ago, Temple is developing an experimental wearable device — a patch that attaches to a person’s temple — designed to continuously track brain flow using proxy measurements. The device also aims to monitor additional health biomarkers, similar to products offered by brands like Whoop and Oura.
Temple operates independently from Continue, another health-tech initiative backed personally by Goyal. Continue focuses on research and has been funded solely by Goyal, who reportedly invested around $25 million into the venture. Apart from Temple and Continue, Goyal also runs LAT Aerospace and Eternal, with all four companies functioning separately.
Goyal is also a shareholder in Ultrahuman, known for its smart rings and health-tracking devices.
Who invested in Temple?
Interestingly, the institutional investors backing Temple are largely the same firms that supported Goyal in the early days of Zomato.
Info Edge founder Sanjeev Bikhchandani had invested approximately Rs 5 crore in Zomato in 2010, at a time when the company was struggling financially and facing potential shutdown. He became Zomato’s first institutional backer.
In November 2013, Shailendra Singh of Peak XV Partners led Zomato’s $35 million Series A round, then one of the firm’s largest investments. The funding valued Zomato — then primarily a restaurant listings platform — at about $500 million. Steadview Capital and Vy Capital also built strong early relationships with Goyal through their investments in Zomato.
How will the funds be used?
Temple plans to deploy the capital toward further product development. The funding is expected to sustain operations until the device is ready for a broader public launch.
Despite the ambitious vision, Goyal has indicated that Temple will remain relatively small in scale compared to Eternal. He previously described it as a “small, cute company” — though one he hopes will evolve into “an important wearable the world needs.”
