Myntra acquires Witworks for smart wearables
E-commerce
giant Myntra has acquired Witworks, a Bangalore-based technology
start-up, focused on producing smart wearable devices and their
underlying software. As part of the acquisition, Myntra has inducted the
team into its Innovation Labs; further strengthening the company’s
robust technology team and augmenting its product development
capabilities.
This
acquisition will enable Myntra to develop wearable products for their
in house brands as well as leverage the technology to drive innovation
and enhance consumer engagement in the future.
"Wearables is
currently a 300 crore industry in India and is growing rapidly, with
online contributing 60 per cent to the total business. This acquisition
will help us to solidify our position in this segment and enable us to
develop and launch cutting edge wearable products like smart shoes,
connected smart watches and interactive/intelligent clothing with
biosensors," Jeyandran Venugopal, chief technology officer, Myntra.
Witworks
Consumer Technologies was founded in 2014 by Somnath Meher, Ankit DP
and Chandrashekhar Iyer, alumni of IIT-Kharagpur. It launched its
flagship wearable device, the Blink Watch in 2016, which operates on
their voice-based platform, Marvin OS. The platform integrates a host of
native and third party services capable of innovative voice and visual
interactions, designed specifically for wearable devices. The company
also has a range of audio and fitness wearable devices, under the same
brand. Witworks has a dedicated product development and marketing team,
with capabilities to produce devices in India as well as in global
production houses. (RR)
Monday, 16 April 2018