The company known as Titan has recently invested around $5 million in a start up dealing with products related to the internet of things. The company that they’ve invested in is known as CoveloT, according to several sources. The deal is one of the first of its kind. Although there are obviously many investments made across the tech space, this is the first to invest such a large amount in the internet of things space. The company is registered as a company named Cove.
The company Cove is registered by the Startup named Kaha, which is based out of Singapore. In addition to having offices in Singapore, the company also has offices in Geneva as well as Bengaluru.
The main goal of the company is to develop new products relating to the interrelatedness of internet based products. The company has stated that they will use “the funds to be deployed towards product development, as well as research, analytics and so on.” Sources have stated that the startup is working to help fix certain issues within the market of security and wearable technology.
These devices will help to monitor certain health issues as well as wellness issues. With the market on wearable health devices increasing exponentially as time goes on, it seems like this start-up is only poised to help get in the niche space in the market. Several insiders have claimed that the company is able to monitor certain security and location features to help identify the location of a given device and how the user is wearing it.
Wearable biometric devices are something that are increasing in technological advancement as well as popularity. With more investments being made in the space, it is only a matter of time before the mainstream adoption of these devices takes place.