Intel acquires BASIS Science – a wearable tech startup in the healthcare and wellness space
Intel Corporation has today announced that it has acquired BASIS Science – a wearable technologies startup in the health and wellness space. It was also a portfolio company of the Intel’s venture capital arm - Intel Capital. BASIS Science is the creator of the BASIS band – a wrist-based health tracker coupled with an online personal dashboard to help people easily incorporate healthy habits into their daily routines. BASIS leverages four types of advanced sensors in its lightweight, customizable design to calculate steps taken, calories burned and sleep quality, as well as physiological metrics like heart rate. The financial terms of the acquisition was not not disclosed.
Founded in early 2011 by Nadeem Kassam, BASIS Science had previously raised a total of $32.3M in funding from investors like – Norwest Venture Partners, Mayfield Fund, DCM, Intel Capital and others, and had also roped in Deepak Chopra and Esther Dyson as advisors.
With Google formally announcing its software development kit (SDK) for Android wear earlier this month, Motorola announcing the availability of moto360 later this summer, Samsung having already unveiled its Galaxy gear, Qualcomm announcing its Toq smartwatch and rumors of Apple working on an iWatch – this acquisition of BASIS Science accelerates Intel’s wearable products focus and extends the company’s capabilities in this area. The acquisition also gives BASIS’s team access to Intel resources, expertise and global scale to explore new possibilities of wearable technology.
Speaking on the acquisition Mike Bell, Intel Vice President and General Manager of New Devices Group, said – “The acquisition of BASIS Science provides immediate entry into the market with a leader in health tracking for wearable devices. As we accelerate our position in wearables, we will build upon this foundation to deliver products that bring people greater utility and value. I’m confident that our collective resources and expertise positions us well for the future.”
Looks like the battle of the wearables is just beginning and after the battle of the smartphones that changed the whole mobile phone industry and turned tables for the market leaders like Nokia and Blackberry, the wearable tech space will be worth watching to see how things shape up.