Physic Ventures is pleased to announce that adidas International Inc. has acquired Textronics Inc. a leader in the development of wearable sensors for use in fitness monitoring.
Unilever Technology Ventures (UTV), now managed by Physic Ventures, has been an investor in Textronics since the first round of funding and has continued to be an active investor and board member for 3 years, helping the company grow from early-stage to a successful exit.
"This investment displays our model of investing in outstanding technologies that bring the consumer healthy products," said Director of Innovation, Phil Giesler. "The wearable textile sensors are seamlessly integrated into everyday garments, combining information technology with a consumer product. Our role in Texronics' exit is an illustration of the Physic Ventures investment model, "investing in keeping people healthy."
Textronics develops and commercializes functional products that integrate sensing fibers directly into the fabric of garments, allowing for the measurement of electrical, optical or magnetic signals without using cumbersome electrodes attached to the body. This includes heart and respiration measurements, vital statistics and motion detection.
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