~ developing next wearable products and AI based physical conditioning services ~
VELDT Inc. (Head office: Setagaya-ku, Tokyo, CEO: Jin Nonogami) which develops IoT related products and services, announced the completion of increase in capital by JPY 160 million thru third-party share allocation. The newly issued shares were subscribed by an Investment Limited Partnership managed by Fast Track Initiative, Inc. (Head office: Bunkyo-ku, Tokyo, CEO: Hiromichi Kimura) and Darma Tech Labs Inc. (Head office: Shimogyo-ku, Kyoto, CEO : Narimasa Makino), as well as other private investors.
Products in development VELDT LUXTURE schedule for release in late 2018
* VELDT LUXTURE delivery will be delayed because of redesign of the software and hardware related to the future plan.
[Accelerating the development of Physical Conditioning Service utilizing quality wristwear and AI technology]
VELDT is a producer of smartwatch products with vintage analog wristwatch styling. The products have been exhibited at the 2016 and 2017 Baselworld, the world’s largest watch and jewelry exhibition, and have been highly-praised by the world’s watch experts. The global wearable technology market is expected to significantly expand in the future. The market will mainly be driven by smartwatches and by wristband type products, commonly referred to as wristwear. Distinguishing themselves from gadget-like products with short product cycles, VELDT focuses on products made from quality material along with an attentively designed user-interface. The wristwear products are developed based on the company’s goal of having the owner use the product for a long time. The user data collected from various devices will be used to improve healthcare and other performance features in the future. The additional funding from the third-party share allotment will be used to develop new hardware as well as to start a new physical conditioning service utilizing AI technology for both B2C and B2B applications.
[ About Fast Track Initiative, Inc.]
The company manages a venture capital fund specializing in medical and healthcare businesses. The team is comprised of professionals from medical care, regenerative medicine, medical equipment, medical ICT, preventative care and healthcare related IoT industries. The knowledge-base of the company will be used to support VELDT’s future development of physical condition prognostics and preventative care devices and services. Along with the agreement to underwrite the capital increase by third-party allotment of new shares, Masaaki Sato from Fast Track Initiative will become an outside director of VELDT to strengthen its management structure.
[About Darma Tech Labs Inc.]
Darma Tech Labs was founded on the principal of supporting hardware device start-ups, creating a project management service, Makers Boot Camp to help companies in the transition phase of prototyping to mass production. In July of 2017, the MBC Shisaku 1 Limited Partnership was established to offer hardware start-ups with both funding and technological support. Along with the new investment to VELDT, the partnership is providing technological support in the prototyping stage thru the Kyoto Shisaku Net (a consortium of small-to-medium sized companies in the metal and machinery industry located in southern Kyoto, offering solution services for prototyping).
[About VELDT Inc. ]
VELDT Inc. is a start-up founded in 2012 with its head office in Tokyo, focusing on the development of wearable and IoT products and services. The company established its main theme of LIFE: TECH REBALANCE, with the goal of improving the health and well-being of today’s people, exposed to stress and health issues coming from the rise of the internet. Products and services are developed around the following philosophies. Infocare: Filtering out important information from the flood of data to secure time to relax, Selfcare: correcting an often-disturbed life rhythm to increase the period of good health and high performance, and the Enhancement of convenience to enjoy the things we like. The brand offers quality products and services, along with richness in life for people living in the age of digital stress.
For inquiries about this press release:
VELDT Inc. PR
TEL : 050-5824-3760 FAX： 050-5824-3760