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Vivanta aims to be the suite for companies to access health data stored in wearables. With this, it wants to open up a “huge range of opportunities for product development, differentiation, engagement and improvement of their user experience,” said Redwood Ventures, one of its investors, in a press release.
The startup founded by Jorge Madrigal and Alex Hernández, who had previously worked together on Belvo and Arcus, raised a US$300,000 pre-seed capital round, TechCrunch revealed. This will be followed by its launch in Mexico, which will take place privately next July.
99startups, Redwood Ventures, Angel Hub MTY, and Lotux participated in the financing. It is also backed by Edrizio de la Cruz of Arcus, Norman Muller and Rene Serrano of Fondeadora, Eric Chijioke of Paga, and some of its future clients.
Vivanta arrives at a time when wearables have had significant growth in the wake of the pandemic. Consultancy firm Gartner points out that worldwide spending on wearables by end-users in 2021 will exceed US$80 billion, 18.1% more than in 2020. And GlobalData forecasts that this sector will be the predominant one within the Internet of Things (IoT), with 46% of this market and generating around US$97.5 billion in revenue globally by 2022.
Thus, Redwood Ventures pointed out that in a scenario where the demand for wearables is expected to grow at a significant rate in the coming years, as well as wellness and health apps, “companies are looking for new ways to expand their services and improve their user
an experience by leveraging data to personalize products and services.”
This is where Vivanta comes in, as it wants to consolidate itself as the suite for companies to access the data recorded by wearables. The Mexico-based startup plans to provide its clients with tools to connect, understand and use people’s data.
Vivanta analyzes not only devices such as smartwatches but also smartphones and other fitness devices with Internet access, giving it the whole user journey, with data such as heart rate, steps walked, sleep quality, and respiratory rate, all obtained with prior authorization. Its clients will then be able to create data-driven products, such as insurtech solutions and even fintech solutions that reward good health habits.
According to Redwood Ventures, more than 30 clients already want to use Vivanta. They are located in the US, Mexico, Colombia, and Brazil, countries where Jorge and Alex’s startup will focus.
(Main image: Luke Chesser on Unsplash)
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