ReTiSense has received backing over 300 people across 25 countries at the end of the campaign.
By Swadha Mishra
Bangalore-based Internet of Things (IoT) startup ReTiSense has announced successfully raising over $30K via a US-based crowdfunding platform Kickstarter for its wearable fitness-tracking and guidance device Stridalyzer.
The patent-pending technology with multiple sensors integrated in a pair of insoles detect a runner's foot lands, rolls and push-offs while running. Stridalyzer automatically understands runners' movements and collects the running data through an app. Stridalyzer help runners understand, improve their form and predict possible injury on a real-time basis through an actionable, guidance-based approach and technology.
ReTiSense has received backing over 300 people across 25 countries at the end of the campaign. The startup is planning to start shipping the product by April 2015. Initially, 500 pairs will be manufactured and retailed via online platforms like Amazon, eBay and few select store-specific outlets. The production is still in early stages and the same will be manufactured by a Taiwan-based manufacturer on a contract basis.
ReTiSense was started by the IITian duo and former Intel employees Anshuman Singh and Shuvadeep Sarkar in June 2014. Singh has been a long-distance runner for several years and has 15 years of experience in data analytics algorithms and software development, embedded devices and semiconductor design. He also holds an MBA degree from Babson College (US). Sarkar, on other hand, is an expert and holds 10 years of experience in semiconductor validation and system integration for mobile devices.
Netting $45,000 in past from friends and family, ReTiSense was a completely bootstrapped startup uptill now.
Sharing his views about successfully raising fund via crowdfunding, Singh said, “With continuous support from fellow running enthusiasts and experts, we hope to bring to the running world a product that will revolutionise the technique of improving running performance and injury prevention. The raised fund will be completely used for manufacturing."
Coupled with a smartphone app and cloud-based intelligence, Stridalyzer captures high degree of details of foot landing, roll, and push-off. The insoles take 15-20 minutes to charge fully and last for about a week on a single charge.
Singh confirmed that they have received about 25 per cent of the total pre-orders from India. He further shared that the product will be made available at a market price of $120-$140 per pair.
Kickstarter is a global crowdfunding platform with a stated mission to fund creative projects, which includes films, games, music, art, design and technology. Launched in April 2009, Kickstarter claims over $1 billion pledge amount from over 7.7 million donors, funding more than 76,000 projects.