Flipkart-backed online fashion platform, Myntra has acquired Bengaluru-based technology startup Witworks, which is focussed on producing smart wearable devices and their underlying software, the company said in a statement.
As part of the acquisition Myntra has inducted the team into its Innovation Labs; further strengthening the company’s technology team and augmenting its product development capabilities.
Witworks Consumer Technologies was founded in 2014 by Somnath Meher, Ankit DP and Chandrashekhar Iyer, alumni of IIT-Kharagpur. It launched its wearable device, the Blink Watch in 2016, which operates on their voice-based platform, Marvin OS. The company also has a range of audio and fitness wearable devices, under the same brand. Witworks has a dedicated product development and marketing team, with capabilities to produce devices in India as well as in global production houses, the statement said.
“Wearables is currently a 300 crore industry in India and is growing rapidly, with online contributing 60% 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 at Myntra.
