Leading platform for fashion brands and pioneer in m-commerce play, Myntra, on Monday announced that it has acquired Witworks, a Bengaluru based technology startup, focussed on producing smart wearable devices and their underlying software.
As part of the acquisition Myntra has inducted the team into its Innovation Labs; further strengthening the company's robust technology team and augmenting its product development capabilities.
"Wearables is currently a 300 crore industry in India and is growing rapidly, with online contributing 60 percent to the total business. This acquisition will help us to solidify our position in this segment and enable us to develop and launch cutting-edge wearable products like smart shoes, connected smart watches and interactive/intelligent clothing with biosensors," said Jeyandran Venugopal, Chief Technology Officer, Myntra.
Witworks Consumer Technologies was founded in 2014 by Somnath Meher, Ankit DP and Chandrashekhar Iyer, alumni of IIT-Kharagpur.
It launched its flagship wearable device, the Blink Watch in 2016, which operates on their voice-based platform, Marvin OS.
The platform integrates a host of native and third-party services capable of innovative voice and visual interactions, designed specifically for wearable devices.
Witworks also has a range of audio and fitness wearable devices, under the same brand.
The company has a dedicated product development and marketing team, with capabilities to produce devices in India as well as in global production houses.
This acquisition will enable Myntra to develop wearable products for their in-house brands as well as leverage the technology to drive innovation and enhance consumer engagement in the future. (ANI)