Mountain View, California-based activity tracker maker Moov raised $3 million in a round led by Banyan Capital.
The company's activity tracker contains sensors that can tell how a user moves, not just when they move, Moov CEO Meng Li told MobiHealthNews. For example, the device can be hooked around the user's ankle so that it tracks running form, or to a golf club to track a swing, or even to a user's wrist to track swimming stroke.
This information from the device is sent to a companion app that offers coaching tips to the user. Moov is developing various apps for specific activities. The company currently offers two apps, available on the iPhone: Moov Running and Walking Coach and Moov Boxing - Cardio Punch. In addition to using the funds to create new apps, Li also wants to develop Android versions of the apps.
“With the funding, we will use the same mechanics — a lot of coaching, a lot of insight, in addition to data — and apply that to other sports," Li said. "We will be releasing swimming really soon, and then the next one is cycling, and then the next is body weight.”
Other apps that the company plans to develop include yoga, weight lifting, and golf. Moov hopes its not the only company developing apps for its device.
"We’ve got a lot of demand for the SDK as well," Li said. "Some people want to make physical therapy apps [to help] their patients to recover and some researchers want to use Moov to [conduct] a field study on how exactly people are running. There are a lot of people who want to use Moov for different projects, so the key for us is to open up an SDK so that people can build their own apps."
Moov will likely open its SDK to other developers next year.
Moov cowdfunded the device on its website in February and raised $1 million in two weeks through the campaign. Six months after launching the device, Moov shipped it to all of its early backers -- close to 20,000 people -- ahead of schedule. The device is still available for pre-order on the company's website for $79.95. Users who purchase the device now, as part of the company's third batch of preorders, will receive it in November. According to Li, it may take a while before the company moves away from the pre-order system.
"The key for us is to engage our backers and treat them as part of 'team Moov'," Li said. "So that’s why when we launched, we launched after we finished the first app. There won’t be a cutoff date, like ‘Today is launch day'. I think the product will just evolve to a better Moov experience. We want to make it right, we want to make it really transform users' workouts. And we want to hear more stories of how people are using Moov and changing their life while we are building the app. So it’s hard to say when there’s going to be a full launch."