We weren’t alone in being impressed by Motiv. The start-up helped turn the script on wearables by essentially cramming a physical fitness tracker’s worth of technology into a ring. Today, San Francisco ‘digital identity’ startup Proxy announced that it’s acquiring the business.
The business’s site is littered in buzzwords, but Proxy focuses on digital crucial cards– basically offering a way to utilize digital gadgets like mobile phones to access services and houses. An odd fit for a business that makes workout rings, till you look at what Motiv’s been up to in recent years.
Amongst the additions to the tiny hardware platform are NFC payments, lost phone tracking and two-factor device authentication through gait tracking. Whether Proxy eventually has interesting in production and selling a physical fitness ring, there’s lots of underlying innovation here that would be of interesting to a digital identity business.
“The need for our technology is only going to increase and we saw a clear path forward in the value of validating one’s identity in both the physical and digital worlds,” Motiv said in a blog post. “Keys, access cards and passwords are quickly being changed with a biometric identity which supplies considerably enhanced security and convenience.”
While the app will continue to be offered for download (no word on how long it will continue to use support), the offer mark completion of Motiv’s online sales, while partner retailers will burn through the rest of their stock.
Proxy, on the other hand, says it’s committed to the ring as the future of the wearables category.”With this acquisition, Proxy prepares to bring digital identity signals to clever rings for the very first time and change the method individuals utilize innovation to engage with the world around them,” the business composes. “Our company believe it’s possible to spark a paradigm shift in how people utilize wearables to user interface with the physical world, so they can do and experience things they never ever have previously.”
While compelling, the fitness ring hasn’t precisely taken the wearable category by storm in the previous 3 years, as the space continues to be nearly specifically dominated by headphones and smartwatches. For those who still think in the form element, Motiv has had some competitors just recently, from business like Oura, a ring mostly developed around sleep tracking.
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.