Smart wearable market estimated to surge new heights: 10 European startups cashing in on the growing trend

Wearable computing is nothing but wearing a computing device in any form such as clothing, gadget or anything else. These wearables are incorporated with sensors such as heart rate monitors, accelerometers, thermometer, etc. and provide real-time monitoring of the wearers’ health.

With the increase in the adoption of the latest technologies, wearable devices in the form of wristbands and smart bands are commonly used by millions of people. This category of consumer electronics has driven the growth of the wearable computing devices market.

As per an analysis by Coherent Market Insights, the overall sales of smartwatches is facing a year-on-year growth. The report predicts that the wearable devices market will flourish until 2016. Due to this growth, several companies have started innovating this industry. Here, we have listed the hottest European wearable startups cashing in on the growing trend.

Vector Watch (UK)

Founders: Andrei Pitiș, Dan Tudose
Funding: €6.1 million
Valuation: $15 million
Founded Year: 2013

Why its hot: Vector Watch is a London-based wearable company, which has manufactured a range of smartwatches that are long-lasting and elegant. Vector created its own smartphone OS and released API an API to developers. The company was acquired by Fitbit, one of the leaders in the wearable market in 2017. Post-acquisition, the company stopped releasing new products under Vector branding.

Tespack (Finland)

Founders: Caritta Seppa, Mario Aguilera, Yesika A Robles, Yesika Aguilera
Funding: €2.2 million
Valuation: €8 million – €12 million
Founded Year: 2013

Why its hot: Tespack is a Helsinki-based wearable tech company. It is involved in the development and designing of mobile energy solutions such as solar power battery packs, solar panels, and backpacks. Tespack focuses on creating superior quality and well-designed products and aims to implement machine learning and automation in its products soon.

Elitac (Netherlands)

Founders: Jasper Dijkman, Merijn Klarenbeek
Funding: €520k
Founded Year: 2012

Why its hot: Elitac is a Dutch wearable tech company, which enables wearable innovation by integrating textile and electronics. The company has a wearable lab enabling various partners to develop smart garments with stretchable electronic circuits with facilities including testing, R&D, prototyping, and production of wearables.

iBreve (Ireland)

Founders: Flavia Wahl, Jacob Wahl
Funding: €50k
Founded Year: 2017

Why its hot: iBreve is a wearable meant to improve stress resilience. It is an early-stage startup operating with the intention to create a world, which is free from stress-related diseases via smarter breathing. The company’s digital health solution lets people improve their stress resilience by monitoring their breathing patterns with the help of machine learning. The unique technology treats stress naturally and also prevents the same.

Zerintia (Spain)

Founders: Pedro Diezma
Funding: €50k
Founded Year: 2014

Why its hot: Zerintia is a market leader that connects people and technology. The company is specialized in developing software based on IoT, Augmented Reality, and wearable technology to improve health. It has come up with innovative solutions to improve the efficiency and performance of new technologies. It develops new products and processes and offers remote assistance as well.

Withings (France)

Founders: Cedric Hutchings, Eric Carreel
Funding: €30.7 million
Valuation: €170 million
Founded year: 2008

Why its hot: French wearable startup Withings is known for developing innovative and easy-to-use devices for people to take proper care of their health. The company has launched fitness trackers, hybrid smartwatches, advanced sleep-tracking mat, medically accurate devices, and more. It aims to develop next-generation smart health solutions.

Sleep.ai (Netherlands)

Founders: Michiel Allessie
Founded Year: 2014

Why its hot: Sleep.ai is a Dutch startup based in Nijmegen. The company focusses on the diagnosis and monitoring of sleep disorders with its mobile health solutions. The app can detect snoring and alert the Silentsleep wearable via a signal so that it vibrates. With this app, users can track their progress over time and consult a medical professional.

aucobo (Germany)

Founders: Benjamin Schaich, Michael Reutter
Funding: €30k
Valuation: $120k – $180k
Founded Year: 2016

Why its hot: acuobo is a cloud-based platform, which lets users connect different software, machines, and sensors with each other easily. With this platform, users can automate any process with a simple user interface sans any IT expert. This practice maximises flexibility and decreases integration costs. aucobo finds use in the automotive industry and is in plans to tap into the medical, aerospace, and pharmaceutical industries.

Onera Health (Netherlands)

Founders: Pieter Ermers, Ruben de Francisco, Soukaina Adnane
Funding: €8.5 million
Valuation: $37 million – $56 million
Founded Year: 2017

Why its hot: Dutch startup Onera Health is a leader in sleep diagnostic solutions. It focuses on breakthrough sleep testing solutions with simple patches instead of sensors that are attached to the scalp, face, chest, and limbs. It operates with the mission to advance sleep medicine and improve the health and quality of life of people across the world.

Elvie (UK)

Founders: Alexander Asseily, Tania Boler
Funding: €44.6 million
Valuation: €150 million – €225 million
Founded Year: 2013

Why its hot: Elvie is a London-based health tech startup, which develops smarter technology aimed at women. Its first product dubbed Elvie Trainer is an award-winning app-connected Kegel trainer helping women strengthen their pelvic floor with the help of five-minute workouts. The company’s products and solutions tackle common issues faced by women. It develops smarter technology for women to create exceptional products to improve the health and lives of women.

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https://siliconcanals.com/promoted-content/scaling-europe/how-to-build-a-strong-digital-europe-where-scale-ups-thrive/