It is a great pleasure for us to announce that one of our portfolio startups, Proxy which magically unlocks doors and access devices by securely transmitting a user’s digital identity signal over Bluetooth has acquired a smart ring wearable company, Motiv.
If you study both startups, you will find out that it’s just natural for both startups to merge. Why?
The newly acquired startup, Motiv offers smart rings that not just track your fitness but also keep your digital identity safe so that you can simply login to your online accounts with just a gesture before your computer. This online security feature of Motiv rings opens lots of innovative options for Proxy because Motiv rings also use Bluetooth for communication, have battery life of not hours but days and are fully waterproof. Currently, Proxy uses your mobile phone to transmit ID signal through Bluetooth which users can’t keep with them all the time. But with Motiv rings which are designed and built for 24/7 use, users can take them anywhere whether they go to swim, bath, cook or even sleep. With this always-on ability of Motiv rings, Proxy can offer its customers to interact with more and more devices anywhere building a smart, innovative and touchless lifestyle for everyone.
Just a month ago, Proxy raised $45M in Series B and they quickly acquired Motiv the very next month without wasting any time. This shows that how much Motiv is important for Proxy. We look forward to see some exciting ideas coming to reality in future from Proxy.
The smart ring offers the unique opportunity for biometric authentication that is constantly in contact with you, continuously confirming your identity and augmenting you and your presence along with your personal preferences, and secure credentials towards devices and spaces around you. The possibility of an ever-present, ever-authenticating identity device, working passively and wirelessly in the background, opens up new ways to augment humans in the physical and digital worlds, create powerful new experiences, and change the way people interact with their environment.
By incorporating much of Motiv’s patents, technology, and advanced manufacturing, Proxy will accelerate our wearables timeline by at least a couple of years. I wish I could share all of the exciting things we’re working on to advance the smart ring forward. What I can say right now is Proxy has already begun work to foster the next paradigm in what wearables can do and has a number of smart rings under design and development, aimed at creating new experiences and unlocking new use cases that will move us further into the post-smartphone era.
This acquisition places Proxy at the forefront of human-machine symbiotic technology that will lead a revolution in the way we identify ourselves to all objects around us and how we interact with our environment. With AR, VR and advancements in crypto coming together, the timing is right for us to create a future we can all look forward to, one where your privacy and personal data stays yours and in your control, where everyone has their own terms of service and is empowered to curate personalized experiences everywhere they go and with everything they interact with.
Please read full story at Proxy Blog.