Bangalore-based 2mpower Health Management Services has raised an undisclosed amount of funding from Chairman of Manipal Global Education Services TV Mohandas Pai and former Infosys CTO Sharad Hegde, reports The Economic Times.
The company makes fitness tracking device GetActive and will use the funds raised to provide holistic disease management solutions and expand applications in areas such as retail and financial services. As of now, the company makes wearable devices that can track physical activity, calories burned, number of hours slept and weight. It has the capabilities of other fitness trackers such as Fitbit and Jawbone, and uploads your daily physical activity information online that can be viewed on an online dashboard.
However, the company is trying to distinguish itself by offering various services along with the device. To begin with, it offers the service of a bunch of medical experts, who will provides customers with expert advice using the data generated by the fitness tracker. GetActive is quite similar to GoQii, a wearable device that was launched by Vishal Gondal earlier this year.
GetActive claims to have over 10,000 customers as of now, but it’s not clear how the service will be used in retail sector. The company has not said if it plans to share the data with insurance companies, which could be interested in tracking your day-to-day health rather than depending on an annual medical test.
Other Indian ‘Internet of Things’ companies
Wearable devices come under the Internet of Things (IoT) category, which refers to everyday objects that are connected to the Internet. These devices could either collect data that you can use later on or automates some part of your life.
The first major device in this category from India was Gecko, a small tile developed by Bangalore-based Connovate technology for example, can be used to control and spot various objects around you using a smartphone. The company raised $135,410 from Indiegogo as part of a crowdfunding campaign.
Then there was Fin, a ring that would let you use gestures on your palm to control your smartphone, TV, car stereo or any other connected device, by Kochi-based RHL Vision. The company ended up raising over $200,000 as part of a crowdfunding campaign.
Gondal’s GoQii also comes under this category, but his company gives out the device for free for anyone who subscribes to the fitness advice service. This subscription service is currently being offered for Rs Rs6,999 (for 6 months) and Rs 11,999 (for 12 months).
Ahmedabad-based Azoi is also working on a fitness tracker called Wello, that is in the form of an iPhone case. Wello is priced at Rs 12,350 ($199) and the company is targeting USA, Canada, UK, EU, Singapore, Hong Kong and China, apart from India.