Online fashion commerce company Myntra which is backed by homegrown e-commerce giant Flipkart has acquired Bengaluru-based technology startup Witworks.
The startup is aimed to produce wearable devices and their underlying software, the company said in a statement.
Myntra has inducted the team into its Innovation Labs; further strengthening the company’s technology team and augmenting its product development capabilities, as a part of the acquisition deal.
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.
Jeyandran Venugopal, chief technology officer at Myntra 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.