1. Witworks raises funds from Fireside, execs of Ola, ITC & Oyo

Witworks raises funds from Fireside, execs of Ola, ITC & Oyo

Witworks Consumer Technologies today said it has received an undisclosed amount of seed funding led by Fireside Ventures, Investopad and executives from Ola, Oyo Rooms and ITC.

By: | New Delhi | Published: August 25, 2016 6:27 PM
The consumer technology company will use the funds for development and launch of Blink — a wrist-wearable platform designed to provide access to contextual information and services on the go. (Source: Reuters)

Witworks Consumer Technologies today said it has received an undisclosed amount of seed funding led by Fireside Ventures, Investopad and executives from Ola, Oyo Rooms and ITC.

The consumer technology company will use the funds for development and launch of Blink — a wrist-wearable platform designed to provide access to contextual information and services on the go.

Witworks aims to tap into the nascent smart wearables market currently dominated by large technology players.

“Witworks has raised a seed investment round from Fireside Ventures, Investopad, P39 Capital and a syndicated group of angels, including Anupam Mittal (Shaadi.com founder), Pranay Jivrajka (Ola COO), Maninder Gulati (OYO Rooms chief of strategy), Abhinav Sinha (OYO Rooms COO) and top executives from ITC,” it said in a statement.

Somnath Meher, co-founder and CEO at Witworks, said wearables, especially watches, are at “a very interesting stage” at this point of time.

“The technology is in place, and there’s enough eagerness among consumers. But lack of relevant use-cases, ease of interaction and genuine design-empathy have prevented them from taking off. With a blend of technology and design, we are looking to solve that and make smart-wearables ubiquitous,” he added.

Previously, Witworks had launched a solution for earphone entanglement called Rewind, of which about 40,000 units have already been sold.

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