Performance Lab, New Zealand-based a sports technology developer company, has raised an undisclosed amount from Intel corporation’s investment arm, Intel Capital. The raised funds will be used for product development and to accelerate international expansion. The other terms and conditions are still undisclosed.
The other investor Deepak Natarajan has also participated in the round. Post this investment, Deepak Natarajan wll join Performance Lab’s board as an observer.
“We are looking forward to working with Intel,” added Waynne Dartnall, Chief Executive Officer, Performance Lab. “The combination of funding, together with technology and sales and marketing expertise, will help Performance Lab take our advanced coaching software to a global level.”
Performance Lab is known for providing ARDA Product Suite that transforms available data into meaningful, relevant advice for consumers across smartphones and tablets.
Since 1991, Intel Capital has invested more than USD 11 billion in over 1,366 companies in 55 countries. In its current portfolio 207 companies have gone public on various exchanges around the world and 353 were acquired or participated in a merger.
“The sports, fitness, health and wellness sectors are fuelling strong global demand for smart gadgets,” said Sudheer Kuppam, Managing Director, Asia Pacific, Intel Capital. “Performance Lab’s suite of products provides enduring value to the smart gadgets that customers are incorporating into their health and fitness regimen.”
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Reuters says: Performance Lab’s products gather and analyze data from a person playing sport or exercising, and send the results to coaches or participants through mobile devices for management of training programmes.
More from Press Release ( As covered by Whatech.com) : Performance Lab designs automated coaching technology for exercise and activity. Its ARDA product suite provides the next generation of intelligence for exercise and activity applications. The technology works across most fitness and wellness devices and provides automated coaching in real-time to optimise a user’s performance based on sensor detection, the user’s changing physiology, classification of their training, history, behaviours and goals.
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