Performance Lab, the New Zealand based company that designs automated coaching technology, received an undisclosed investment from Intel Capital, marking Intel’s further involvement into fitness focused smart devices. “The sports, fitness, health and wellness sectors are fuelling strong global demand for smart gadgets,” said Sudheer Kuppam, Managing Director, Asia Pacific, Intel Capital. Intel Capital has a history of investing in companies in the Southeast Asia, Australia and New Zealand regions, with investments in the region totalling over $100 million in more than 20 companies since 1999.
Performance Lab creates and designs automated programs for physiological testing, exercise and activity prescription, coaching, and training systems. The programmers behind Performance Lab have developed these systems through the application of more than twenty years of coaching experience, that is then combined with real-time environmental and physiological data to create an automatic coaching program for a multitude of exercise regimens. Performance Lab’s ARDA product suite is designed to give real-time advice to users’ smartphones and tablets given the data collected to ultimately improve the users’ performance. Such technology could be widely useful to Intel given their recent involvement in smart clothing, giving them a crucial advantage to other young companies out to get ahead in the smart clothing market.
Intel Capital invests in over 55 countries and typically makes equity investments in young startups across the technology spectrum, however with particular focuses in specific regions, such as wearables in the Asian Pacific.
For more information on the funding, checking out this PE Hub write up.