Hotline: 1800 102 2007
X
Search Business Opportunities
Jun, 21 2018

online fashion platform Myntra acquires smart-wearable startup Witworks

As part of the acquisition Myntra has inducted the team into its Innovation Labs; further strengthening the company’s technology team and augmenting its product development capabilities.

Flipkart-backed online fashion platform, Myntra has acquired Bengaluru-based technology startup Witworks, which is focussed on producing smart wearable devices and their underlying software, the company said in a statement.

As part of the acquisition Myntra has inducted the team into its Innovation Labs; further strengthening the company’s technology team and augmenting its product development capabilities.

Witworks Consumer Technologies was founded in 2014 by Somnath Meher, Ankit DP and Chandrashekhar Iyer, alumni of IIT-Kharagpur. It launched its wearable device, the Blink Watch in 2016, which operates on their voice-based platform, Marvin OS. 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, the statement said.

“Wearables is currently a 300 crore industry in India and is growing rapidly, with online contributing 60% 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,” said Jeyandran Venugopal, chief technology officer at Myntra.

Comment
image
Related opportunities
  • Quick Service Restaurants
    About Us: Tandoori Hut is an upmarket of Unique Soya Products..
    Locations looking for expansion Delhi
    Establishment year 2016
    Franchising Launch Date 2019
    Investment size Rs. 10lac - 20lac
    Space required 300
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Fashion Accessories
    About Us: An affordable luxury brand with sustainability as one of..
    Locations looking for expansion Delhi
    Establishment year 2016
    Franchising Launch Date 2019
    Investment size Rs. 30lac - 50lac
    Space required 800
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Gyms and Fitness Centres
    About Us: UK's leading fitness chain now enters India to provide..
    Locations looking for expansion New Delhi
    Establishment year 2003
    Franchising Launch Date 2018
    Investment size Rs. 2 Cr. - 5 Cr
    Space required 5000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Delhi New Delhi
  • Supply Chain Management
    About Us: Established in 2004 in the UAE, Total Tools is..
    Locations looking for expansion Delhi
    Establishment year 2005
    Franchising Launch Date 2019
    Investment size Rs. 20lac - 30lac
    Space required 300
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
Insta-Subscribe to
Entrepreneur
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities