SFIO And NeuroSky Sign $15-Million Partnership To Bring Biotech Wearables To Global Markets
The distribution agreement grants SFIO rights to sell NeuroSky’s bleeding-edge biotech monitoring devices in select regions across the globe, as well as develop new devices under their own brand.
SFIO Starfleet Innotech, Inc. and biotech company NeuroSky signed an agreement earlier this month, awarding the asset management company distribution rights of NeuroSky’s state-of-the-art health and wellness monitoring devices. As part of SFIO’s broad campaign to build synergies across their core investment areas, the company plans to sell an initial batch of at least 100,000 wearables through partners in health, construction, education, and other related industries.
NeuroSky is a Silicon Valley-based, private biotech company that specializes in electronic wearables such as watches, wrist bands, and headsets. Depending on the device, features include vital sign monitoring, symptom tracking for conditions such as viral infections, and brainwave tracking to help enhance one’s learning abilities.
The agreement grants SFIO exclusive rights to sell NeuroSky products in New Zealand and the United Arab Emirates. SFIO also has non-exclusive distribution rights in Malaysia, Singapore, Thailand, the United States, and other countries yet to be determined.
Tapping their partners across health, construction, education, and similar industries, SFIO intends to position these wearables as a quantitative way to ensure community health in a post-pandemic world, focusing on the communities that have proven to be most vulnerable to communicable diseases.
As an initial project, SFIO will be rolling out these devices to retirement villages, where residents will be able to both monitor their wellbeing and automatically alert medical staff and loved ones with SOS notifications in case of health emergencies picked up by the wearables.
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Educators and researchers will also benefit from NeuroSky’s brainwave monitoring technologies. While initially designed to facilitate more data-driven meditation practices, these head-mounted wearables have scientifically-proven use cases in improving performance in the classroom as well.
For the first eighteen months, SFIO aims to sell at least 100,000 units of NeuroSky’s wearables, including their flagship BioSense HR watch. SFIO expects this venture to generate $10 to $15 million in revenue.
In addition to selling to enterprise partners, SFIO will also be making these devices available to interested buyers through e-commerce platforms like Amazon, and other commercial channels via sub-distributors.
Beyond distribution, SFIO has larger plans to launch its own brand of health tracking wearables, with their in-house software development teams working alongside NeuroSky’s product designers and engineers.
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