Intel invests in New Zealand wearable technology software firm Performance Lab

By Danny Palmer
27 Jun 2014 View Comments
Runners

Intel Capital, the global investment arm of the multinational chip manufacturer, has put funds into Performance Lab Technologies Ltd, a smart gadget software developer working out of New Zealand.

The firm, based in Auckland, develops software designed to improve the user's fitness and well-being.

Further reading

Performance Lab's ARDA product monitors the user's activity using biometric and environmental sensors, and then uses this data to create a training programme.

Exact details about the deal haven't been revealed, but it was led by Deepak Natarajan, director, Southeast Asia, Australia and New Zealand, who will join Performance Lab's board as an observer. It marks Intel's increased focus in sectors such as mobility, security, cloud infrastructure and services, wearable technologies and Internet of Things

"We are looking forward to working together.The combination of funding, together with technology and sales and marketing expertise, will help Performance Lab take our advanced coaching software to a global level," said Waynne Dartnall, CEO of Performance Lab.

"The sports, fitness, health and wellness sectors are fuelling strong global demand for smart gadgets," added Sudheer Kuppam, managing director, Asia Pacific for Intel Capital.

"Performance Lab's suite of products provides enduring value to the smart gadgets that customers are incorporating into their health and fitness regimen."

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