Myntra acquires Consumer Technology Company Witworks

Myntra acquires consumer technology firm Witworks

Myntra acquires consumer technology firm Witworks

Online fashion retailer Myntra said it had acquired tech start-up Witworks for an undisclosed amount. The company focuses on producing smart wearable devices and software.

Witworks Consumer Technologies was founded in 2014 by Somnath Meher, Ankit DP and Chandrashekhar Iyer, alumni of IIT-Kharagpur.

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"According to a statement released by the company, Myntra Chief Technology Officer Jeyandran Venugopal said, "(Smart) wearables is now a Rs 300 crore industry in India and is growing rapidly, with online contributing 60 per cent to the total business. The company had launched its flagship wearable device Blink Watch in 2016, that operates on its voice-based platform Marvin OS. This acquisition will enable Myntra to develop wearable products for their in-house brands as well as leverage the technology to drive innovation and enhance consumer engagement in the future. It also has a range of audio and fitness wearable devices, under the same brand.

Myntra's Innovation Labs is already working on products such as smart shoes that help a wearer track several parameters of their workouts, smart watches and even clothing with biosensors that could be able to track the health of a user by analysing sweat and other parameters.

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