Arion reportedly closed on a multi–million dollar investment round for parent company Atogear to be used to develop further its proprietary technology platform decoding human movement worldwide.
A U.K.-based investment firm led the round with a Dutch deep tech VC fund and existing shareholder, Innovation Industries, representing a significant investment for the Arion brand, the company said in a release.
Arion said ongoing interest from potential investors meant further contributions to the round to continue to be collected ahead of a second closing planned for the end of August 2023.
Arion said it develops innovations to capture and decode human movement data based on “cutting-edge movement science and proven technology, driving value across every level of the sports and health sectors.”
Arion expects to “accelerate the development and commercialization of its cutting-edge sports tech solutions, paving the way for transformative advancements in the sports tech and health sectors.”
With this investment, Arion said it aims to “consolidate its position as a key player in the deep tech landscape, further enhancing its ability to address critical challenges and driving innovation in the sports and health industries.”
Atogear expects to “achieve significant milestones and create value for all stakeholders in the coming 12 months to bolster further the recently reported traction through new customer acquisitions of major industry players from retail, brands and professional sport.”
Photo courtesy Arion
