It’s that time of the year! Global stage is abuzz with start-up events this month. Starting with Pirate Summit at Germany to Tech Disrupt at San Francisco to Slush at Singapore, it’s all about innovation and disruption in the month of September. But, start-up is not the only keyword common to these three events. There’s an Indian name, rearing to launch and packing quite a punch, Boltt, showcasing at all these pristine start-up podiums.
For the uninitiated, Boltt is a ‘sport-tech’ start-up bringing AI Enabled Wearable Technology for Health and Fitness. If that didn’t catch your attention, Boltt was the only Indian name out of the 70 shortlisted start-ups from across the globe, to pitch at ‘Walk the Plank’ at the recently concluded Pirate Summit.
To give you a little background, Pirate Summit is one of the biggest start-up events in Europe and puts together two days of intense pitching, crazy innovators, and an idea flood. Popularly known as ‘the burning man of Europe’, Pirate summit is hosted at Odonien, an old scrapyard turned open air art gallery at Cologne, Germany. It’s a start-up event designed for early stage startup founders, organized by startup founders. All attendees are hand-selected and the total number of attendees is limited to 1,500 (that’s a number from across the globe, so you can guess the exclusivity). This year Pirate summit witnessed 1,000 attendees, 650 founders, 200 investors, 80 pitches, and 60 speakers from 70+ countries, Boltt being the only one from India.
— Tech City UK (@TechCityUK) September 7, 2016
Now, let us tell you why these sought-after start-up events have been rolling the carpet for Boltt.
As of 2015, the most successful wearables on the market are those worn around the wrist, such as smart watches and health and fitness trackers, which are expected to account for 9 in 10 wearables bought worldwide. The most important producers of smart watches are Samsung, Pebble, Fitbit, Apple, Sony, Lenovo, and LG. The most successful fitness trackers so far were produced by Nike, Fitbit, and Jawbone. The global wearables market is expected to reach a value of 19 billion U.S. dollars in 2018, more than ten times its value five years prior. SNS Research estimates that wearable device shipments will grow at a CAGR of 29% between 2016 and 2020. By 2020, wearable devices will represent a market worth $40 Billion with over 240 Million annual unit shipments. Leading smartphone OEMs, Apple and Samsung, are replicating their success in the OS-powered smartwatch arena with a combined market share of nearly 75%.
So it’s safe to say that wearables are here to say. But truth be told, while the waves of the market and statistics are kind to wearables, there is more than 60% drop-off rate by users after getting a fitness tracker/app.
This is where Boltt is striving to make a difference. To quote the 21-year-old founder and CEO of Boltt, ‘Boltt was built with a realization that by only tracking steps or aiming for a 10,000 /day step goal, people will not move an inch at becoming fitter.’ At Boltt, the team had a goal to introduce a more holistic, insightful and comprehensive fitness tracking mechanism that would become your fitness companion throughout your day.
— BOLTT (@bolttsports) September 5, 2016
Boltt has partnered with Garmin, one of the world’s leading wearable sensor manufacturers. Together they are working on unique sensor forms that capture all forms of body data (mechanical and cardiovascular), most intuitively. These form factors are aimed to make technology pervasive by interweaving it into the users’ daily life. With its range of products and solution Boltt is addressing the white space in the Wearables (Hardware) domain and through the meticulous AI reinventing the complementing Software part of the fitness gadgets space.
Boltt Software is a suite of Companion Mobile Applications enabled through AI technology. Called B, the AI enabled voice coach helps motivate, coach and guide the users in their fitness journey. B is a powerful AI voice coach that provides insightful audio feedback, basis the user’s real time performance and training. It takes fitness tracking beyond just steps and tracks essential Metrics: Speed, distance, time, cadence, calories burnt, running route mapping, acceleration, ground impact time, velocity & more. B also helps user improve their running performance via expert advice on the correct form and running posture. The app becomes a humanized yet human independent through and through companion in the user’s fitness journey: be it fat burn, calorie loss, stamina building, speed enhancement. According to the team at Boltt, B also realizes the users need real time guidance and constant motivation during training.
While B guides the users in their activity mode, Boltt Interactive helps ensure the user’s activity is matched by corresponding nutrition and sleep. By analyzing the user’s sleep, activity and nutrition data via sleek auto tracking features, the Bolt Life app, provides guidance on these fundamentals throughout the day. Bolt Interactive, a part of Bolt Life, through 24* 7 text coaching, guides and supports the user in eating healthier, getting more active, and building better lifestyle habits. From what we hear, the interface is as simple as chatting with a friend.
If you want to explore more about boltt, you can join their Ninja program & explore the beta products!