One of India’s biggest IT consulting firms is diversifying its businesses, and hence announcing yet another strategic investment. The company has invested $3 million in a US based wearable company Whoop that makes activity trackers and provides analytical data on performance of the athlete.
None of the company has specified how this relationship or the money invested in the company is going to help. But, given the amount of workforce and the experience of Infosys, it can help US company develop and reach its goal faster.
However, Infosys said that it will have a minority holding of the company, which will not exceed beyond 20 percent of the outstanding share capital of the capital. The deal is expected to get close by 16th December.
This investment from Infosys is the sixth investment from the company which it made after it’s Chief Executive Officer Vishal Sikka set aside $500 million to invest in startups.
Whoop’s activity tracking device tracks performance, strain and recovery levels. It has a data processing system that takes the data and information to provides meaningful and actionable feedback.
Along with the performance, the tracker also keeps track of the sleep and the reaction of the body to the workout. To get the best outcome, the result from the app is shared with the coaches and trainers so that they can design the workout accordingly.
Founded in 2011 by John Capodilupo, Will Ahmed, and Aurelian Nicolae, Whoop is the performance optimization system that helps elite athletes and teams win. So far, it has raised around $27.75 million in around five funding rounds from ten investors.
The company is working with teams across the NFL, NBA, NHL, Major League Baseball, Major League Soccer, and the English Premier League, along with several Olympic teams and trainers for some of the world’s most elite athletes.
Earlier this year, in September 2015, the company had raised $12 million in its Series B round of funding from Two Sigma Ventures, along with the participation of Mousse Partners, Accomplice, Promus Ventures, Valley Oak Investments, and NextView Ventures.