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Experts from different disciplines are focused on the technology
Good sized team with range of expertise and strong advisory board
Brilliant collection of attributes. In my opinion it is a great idea and they have a good chance of success
Pre-money valuation: £6,009,923
Funding round: £850,000
Bodytrak® uniquely combines the measurement of core body temperature (CBT), heart rate (HR), heart rate variability (HRV), volume of oxygen consumption (VO2) and motion metrics, along with providing two-way communications and ambient sound transparency so the wearer can still hear their surroundings.
Gold standard accuracy against medical devices (88% - 99% correlation)
Multiple physiological metrics in one device including core body temperature and heart rate
Proprietary cloud-based analytics with machine learning to enable intervention
Ear-worn wearables are growing at a rate of 10X compared to wrist-based wearables.
Bodytrak enables interventions for those at high risk or in remote environments, providing early warnings of, for example, heat stress and cardiac strain to prevent severe illness and costly and disruptive evacuation procedures. Whether a worker on an oil platform, a driver in a vehicle, a soldier on the Brecon Beacons or a patient at home, Bodytrak provides significant advances in the area of health monitoring, illness prevention and risk reduction.
Bodytrak® is the next generation in wearable technology. Bodytrak provides precision physiology monitoring in a compact earpiece with automated real-time data along with machine learning and intelligent algorithms to give unrivalled insights to enable marginal gains as well as early intervention to reduce risk and associated insurance premiums. It is the only device able to measure core body temperature unobtrusively, continuously and as accurately as medical devices.
Inova operates a largely enterprise SaaS subscription model comprising both the hardware and data analytics as well as support services. We will first carry out direct sales to customers in professional sport, industrial health & safety and defence to gain endorsements from key opinion leaders (e.g. pro cycling, oil & gas, fire services, MOD), based on phased releases to meet the regulatory requirements of the different sectors.
Breed Reply, Reply's advanced incubator, funds and supports the development of start-ups on the Internet of Things (IoT) in Europe and the USA. Based in London, with operational offices in Germany and Italy, Breed Reply supports entrepreneurs and young talent by quickly bringing new ideas to the market. This is done via three fundamental services: funding at "seed" and "early stage" level; considerable support with significant know how transfer of business, managerial and technological expertise; and, thanks to Reply's ecosystem, medium-term involvement to establish start-ups in their market. In the IoT sector, the main areas Breed Reply focuses on are Fitness and Wellness, Healthcare, Smart home, Manufacturing, Transportation and Energy.
The wearable market largely comprises wrist-based and ear-worn devices, with an aggregate size of $40m (2019 forecast). Whilst the market is roughly split down the middle in size, ear-worn wearables are growing at 10X the rate of wrist-based devices, which is a saturated segment and some report is in decline.
To date we have raised £2.0m (net) investment, £900k grants, £200k revenue and £60k Director funds. We’ve also put in place a multi-disciplinary team and significantly reduced technical and commercial risk.