Fitbit & Intel Go After Moov Wearable Company
Struggling to grow sales Fitbit, who recently acquired smartwatch Companies Pebble and Vector is now running a ruler over Moov a Company that makes personal fitness devices. Also interested in the US Company is Intel, who are looking to grow processor sales to devices.
Talking to Forbes about Intel a source said, “They have had half a dozen calls and two meetings,”
“Conversations have been around adding Moov to their Curie offering due to the algorithms that Intel simply cannot duplicate.”
Intel is interested in an acquisition because it “missed with their wearable devices in the past with companies such as Basis,” the source added. The Basis Peak proved to be a disaster for Intel. The heart rate tracking sports watch saw its sales suspended in June 2016, after people reported that their Basis Peak watches overheated and in some cases caused blistering or burns on their wrist. The watch was completely discontinued and pulled from shelves, with full refunds to anyone who owned one in the weeks that followed.
Dubbed the “Siri of sweat”, Moov avoided crowdfunding platforms when it went live back in 2014. The company created its own custom-built site for pre-orders of the original Moov device in February 2014 and, in just two weeks, it had sold around 20,000 units; approximately $1 million worth of product.
The company went live with the Moov NOW in 2016, followed up by the Moov HR. In October, the company has announced a Series B financing round of $12 million led by Mangrove Capital, with participation from BOE Technology Group.
Moov’s devices have a voice assistant on board to guide you through your workouts; telling you when you need to up the pace, or letting you know if you need to ease off. And while Fitbit offers personal coaching insights, Moov’s tech would hugely expand on that.
A Fitbit smartwatch is expected to go live later this year but it’s thought that Fitbit is particularly interested in Moov, with regards to its expanding range of fitness trackers.