Creator of the Blink Watch, Witworks Consumer Technologies, has been bought out by Myntra, which is owned by e-commerce company, Flipkart.
Using a platform also created by the startup, the Blink Watch can be worn by users while providing other technology-based services rather than only being used to tell time. With Myntra’s recent shift to focus on technology and technology-based products and services, the acquisition of Witworks falls directly into play.
“Wearables is currently a Rs 300 crore industry in India and is growing rapidly, with online contributing 60 per cent to the total business,” Myntra’s Chief Technology Officer, Jeyandran Venugopal said, as reported by Deal Street Asia. “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.”
Myntra’s offerings generally focus in on a fashion retail market and the company recently launched a YouTube channel providing customers with videos and content relating to the same sector.
During 2016, the same year as the launch of the Blink Watch, Witworks raised seed funds from P39 Capital, Anupam Mittal, Pranay Jivrajka, Maninder Gulati and Abhinav Sinha among other investors.
The platform created by the startup, with the Blink Watch functions off of is called Marvin OS and works via voice-based and visual technology. The Bengaluru-based startup plans to develop wearable technology for a range of purposes including fitness.
As part of the acquisition, the team at Witworks will work at Myntra’s Innovation Labs.
(Picture courtesy: https://store.blink.watch/)
jazz music