Smart bra firm lifted by Australian investment
Smart clothing company Smartlife has attracted Australian investment to commercialise its technology.
Manchester-based Smartlife Limited has developed cutting-edge tech which can be integrated into garments such as bras, underpants and vests to read biometric signals and convert it into real time actionable insight for the user.
The patented technology is paired with advanced electronics which feeds back live information such as ECG / heart rate, respiration, activity and calories burnt so the user can analyse these metrics alongside other performance markers such as speed and distance.
The equity investment is for an undisclosed sum.
Founder and CIO Mark Pedley said: “Previously this type of information was only accessible to elite athletes or medics however more people are taking an interest in how their body performs.
"The Smartlife technology is unparalleled in its comfort, ease of use and accuracy in varying form factors.
“This investment is being used to accelerate the commercialisation process. During the next month we will be following up on meetings held recently in the States with a view to signing globally recognised sporting brands.
"We also have opportunities in Canada, EU, Australia and China.
"As well as the financial aspect of this transaction, the investors we have on board are connected to one of the world’s leading workwear brands so it’s great to have people working with us who see the value to people’s lifestyles in established markets such as those.”
Pedley runs the company, founded in 2004, alongside CEO Martin Ashby and the private investors.
Smartlife originally specialised in R&D in various industries before focusing on the sports sector in 2012. The original technology was bought from the University of Manchester in 2004.
Since then, Smartlife’s team of scientists and engineers have developed the technology to perfect it and it currently leads in garment wearables which has become a global marketplace.
North West-based law firm Bermans advised Smartlife on the investment.
Jon Davage, a corporate partner at Bermans’ Manchester office, said: “Smartlife is a great example of the thriving technology sector here in Manchester and are very pleased to have supported them in this transaction.
"It’s a very exciting time for the company and we wish them every success.”
Ashby recently spoke about the company's tech at BusinessCloud's 'Tech in healthcare' conference and at a roundtable on tech disrupters. A full report will be available in the next edition of BusinessCloud magazine, available next week. Subscribe here to receive a copy.
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