Sensoria Fitness, the wearable sensor company formerly known as Heapsylon, has raised $5 million from Italian investor Reply SpA. In exchange, Reply SpA will acquire a hefty 20 percent interest in the company. Although Sensoria reported the raise in a press release, VentureBeat uncovered the amount.
Reply SpA will also work with Sensoria on marketing and distribution, including building up the Sensoria SDK. The funding will be used for engineering, sales and marketing efforts, according to the company.
“The internet of things is fueling the next wave of technology innovation,” Reply SpA Chairman Mario Rizzante said in a statement. “We are extremely excited to closely partner with Sensoria who has built the first truly open, wearable development platform. We see tremendous potential synergies between their team and our system integration groups in Europe and in the United States. Together we can leverage the power of the Sensoria Developer Kit to reach out to business and technology leaders and deliver unique, meaningful and quantified experiences for our enterprise customers in an increasingly broader range of industries.” Keep reading>>