Gymcraft, which creates virtual reality games people can experience while exercising on standard fitness machines, landed an undisclosed equity investment from UK-based technology incubator Breed Reply.
The fitness company is among three startups selected from more than 150 that applied from all over the world. The startups were selected for their highly innovative solutions, outstanding management and market potential. In total, Breed Reply has agreed to invest a total of £2.38 million in the three companies for stakes of up to 30 percent. The other two companies operated in the areas of smart buildings and wearable health monitoring equipment.
Gymcraft is a sports-tech company, innovatively combining the mediums of fitness and gaming to build the sports virtual experience of the future. Gymcraft’s fitness-games are experienced through 2D-monitor or in full immersion VR-goggles, while using any normal fitness machines. Gymcraft pushes the boundaries of virtual reality standards, providing users with a real-time, interactive, fitness experience, while performing their favorites sporting activities.
“The new startups further develop our portfolio and represent a remarkable combination of technical and business innovation” – says Emanuele Angelidis, CEO of Breed Reply. “Thanks to these new partnerships Breed Reply extends its presence in substantial markets where the IoT technologies are deeply impacting products, services and business models such as the facilities management market, the occupational healthcare sector and the fitness industry. We are very pleased with the results achieved through our initiative “IoT Best in Breed” so far and we are thrilled to announce the launch of “IoT Best in Breed-3””
Starting today and until November 16th 2015, Breed Reply offers IoT startups the opportunity to present their business projects through “IoT Best in Breed-3”, the biannual initiative aimed at identifying talented teams with a clear understanding of market needs and ready to take the challenge of growing a business in the Internet of Things and Wearable Technologies.
“The best startups are selected and, in addition to funding, will benefit from a transfer of managerial, commercial and technological skills and a strong involvement in the development of solid foundations in their target markets” explained Emanuele Angelidis.
“IoT Best in Breed” has received applications from 26 different countries during the first two editions, covering a wide range of IoT verticals, such as Smart Home, Transportation, Manufacturing, Fitness&Wellness, Energy and Healthcare.
Ideas and projects can be submitted to Breed Reply through the application form on www.breedreply.com.
Breed Reply is Based in London, with operational offices in Germany and Italy, where it supports entrepreneurs and young talent via three fundamental services: funding at “seed” and “early stage” level; considerable support with significant know how transfer of business, managerial and technological expertise; and, thanks to Reply's ecosystem, medium-term involvement to establish start-ups in their market. In the IoT sector, the main areas Breed Reply focuses on are Fitness and Wellness, Healthcare, Smart home, Manufacturing, Transportation and Energy.
Breed Reply is owned by Reply, which specialises in the design and implementation of solutions based on new communication channels and digital media. Through its network of specialist companies, Reply supports some of Europe’s leading industrial groups in Telco & Media, Industry & Services, Banks & Insurance, and Public Administration to define and develop business models, suited to the new paradigms of Big Data, Cloud Computing, Digital Media and the Internet of Things. Reply services include: Consulting, System Integration and Digital Services.