Eindhoven, the Netherlands – January 2020 – ATO-GEAR, a leading company in wearable electronics for B2C and B2B sports markets, announced today that it has closed an investment round with Dutch high-tech venture capital fund Innovation Industries. Earlier investors, BOM Brabant Ventures and a consortium of business angels have expressed their continued trust in ATO-GEAR and its strategy by increasing their invested capital in this round.
ATO-GEAR has developed ARION, ultra-thin pressure sensitive insoles and motion tracking pods which drive unique biomechanical models and algorithms that analyze the performance of runners and running shoes. ARION’s AI, incorporated in the product’s software, is able to provide coaching guidance and real-time feedback assisting runners to adjust their running technique to help reduce injury risk and improve performance. In stores or at events, ARION can help customers to select running shoes based on their personal running profile. Furthermore, ATO-GEAR’s data is used to build software and provide services to shoe manufacturers and other industry partners to facilitate and support brand engagement, product development and serve new and innovative markets.
ATO-GEAR has been steadily executing its ambition to become the most comprehensive platform offering expert insights into human body movement. The recent investment will be used to scale up the organization to enable an accelerated commercial rollout. In parallel, ATO-GEAR’s biomechanical models and algorithms will be improved and expanded to broaden their potential in new application areas.
“Innovation Industries is a fund that understands and embraces technology and IP-driven companies, we are delighted to have them on board as they share our vision of the development of our platform” says Andrew Statham, CEO of ATO-GEAR. “With the support of Innovation Industries, we are able to accelerate growth and make cutting-edge exercise sciences accessible to many more sports enthusiasts around the world.”
Nard Sintenie, General Partner at Innovation Industries comments: “We are excited about our investment in ATO-GEAR, who is at the forefront of the analysis of the performance of runners and running shoes. We look forward to working with the management team on scaling up commercially and developing new applications.”