Intel doubles down on wearables with investment in Basis Science
With an additional $11.75 million, Basis Science -- maker of the Basis band activity and sleep tracker -- has enlisted the chipmaking titan as a principal investor.
The wearable-tech market -- specifically the sector concerned with health and fitness -- is a hotly contested space, with major players large and small waging wars for the wrist and shooting for the sweet spot between price point and functionality.
Basis Science, a startup that makes a high-end fitness tracker called the Basis band, has just solidified its stake in the fight with $11.75 million in additional funding to close out its Series B round at a total of $23 million, with Intel Capital coming onboard alongside Stanford University, iNovia Capital, and a slew of other new investors.
The investment in Basis Science comes on the heels of Intel's significant investment late last month in Recon Capital, which makes a Google Glass-looking heads-up display that differentiates itself by targeting the professional sports and athletic markets.
"By collecting heart rate, skin and ambient temperature data along with movement tracking, the Basis multi-sensor band opens up opportunities for data analytics driving deeper insights into health and personal behavior," said Arvind Sodhani, president of Intel Capital and an Intel executive vice president, in a statement.
Basis' $199 wrist-worn tracker -- while roughly $75 to $100 more than competitors like the Fitbit Flex and Nike FuelBand -- does indeed stand above the crowd. It contains a consistent heart rate monitor built into the back of the band, a workout intensity monitor that tracks perspiration, and a skin temperature reader that helps flesh out data on how hard you exert yourself throughout the day. That's all on top of the standard sleep and step-tracking functionality built into the watch-like device.
The recent cash injection for Basis brings its total funding to more than $32 million. The company also named Ethan Fassett, formerly of Trinity Ventures, as its vice president of product.