Last month, Intel Corporation (NASDAQ:INTC) made a sizeable investment in Recon Instruments, a company that delivered the first wearable heads-up-display technology to consumers. From that first unit on, Recon Instruments have delivered over 55,000 units worldwide to those you need their HUD for their pursuits in the sporting world. Of these units, a large number of them were sold in Apple Stores during a successful marketing campaign.
Intel has shifted its attention to Basic Science
Now Intel Corporation (NASDAQ:INTC) has shifted its attention to Basic Science where it joined Stanford University, iNovia Capital and a number of other investors in Series B funding. Basic Science makes a high-end fitness tracker in a competitive market called the Basis Band. Numerous companies are focusing on the wrist to sell both low and high priced fitness related “watches.”
“By collecting heart rate, skin and ambient temperature data along with movement tracking, the Basis multi-sensor band opens up opportunities for data analytics driving deeper insights into health and personal behavior,” said Arvind Sodhani, president of Intel Capital and an Intel Corporation (NASDAQ:INTC) executive vice president, in a statement.
Basis’ Band finds itself in direct competition with the Fitbit Flex and (the) Nike FuelBand. It does, however, sell for considerably more than either of these wrist-worn fitness trackers with a retail price of $199. What does that extra $75 to $100 get you? Unlike its competitors, it contains a consistent heart rate monitor utilizing the back of the band, a skin temperature reader that collates data and allows you to see how hard you exert yourself throughout the day, and a workout intensity monitor that measures perspiration.
That’s what makes it different, it also monitors your sleep and tracks your steps, yet looks like a standard digital watch of streamlined design.
Total funding with the help of Intel
Basis’ total funding with the help of Intel Corporation (NASDAQ:INTC) and the other mentioned and unmentioned investors brings the total funds that they have raised to over $32 million. While that number certainly won’t help them against the tech and fitness giants, it no longer remains a company that can be ignored in a niche that a number of companies including Apple Inc. (NASDAQ:AAPL) and Google Inc (NASDAQ:GOOG) are looking to enter.
Basis also named Ethan Fassett as its vice president of the product. Mr. Fassett joined Basis from Trinity Ventures.