Deepinder Goyal's Temple Valuation Nears $375 Million Mark
Deepinder Goyal's wearable startup Temple has reportedly seen its valuation climb to $375 million, nearly double its previous valuation, and has initiated its first employee stock option program.
Temple, the wearable technology startup founded by former Eternal CEO Deepinder Goyal, has reportedly seen its valuation nearly double to $375 million. The company has also launched its first employee stock ownership plan (ESOP) liquidity program, allowing select early employees to cash out a portion of their vested options.
Reports indicate that approximately 20 employees out of Temple's workforce of 200-220 will be eligible for the program, which permits them to sell up to 25% of their vested ESOPs. This buyback values the startup at $375 million, a significant increase from the $190 million valuation established during its $54 million seed funding round in February.
Goyal informed employees that Temple has attracted interest from external investors at an estimated valuation of $500 million ahead of its next funding round. However, the company opted to conduct the ESOP liquidity event at the $375 million valuation to provide employees with an earlier opportunity to benefit.
Temple develops a forehead-worn wearable device that measures the body's metabolic state in real-time. The company is partnering with Ethereal Machines and Zetwerk for manufacturing and is preparing for a broader commercial launch. The move comes amid growing investor interest in preventative health and longevity technologies.