Wiivv Wearables Inc.

Wiivv Wearables Inc.

February 08, 2017 06:00 ET

Wiivv Raises $4M and Acquires World's Largest Database of 3D Foot Scans to Double Down on Custom-Fit Footwear

Leader in 3D Printed Insoles Announces Series A Funding and Acquisition of eSoles

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 8, 2017) - Wiivv Wearables Inc. announced today that it is launching into the next phase of custom-fit footwear after raising $4 million in Series A funding and acquiring eSoles, widely known for their modular customizable footbeds. These advancements will propel and support Wiivv's plans for new product launches in custom-fit footwear over the coming months and further establish their position as industry innovators.

Wiivv's Series A funding is being led by a private Seattle-based tech investor syndicate. Existing major investors Eclipse VC, Evonik Venture Capital, Real Ventures, and Asimov Ventures, will also join the round, which is set to officially close in Q1 2017.

Through the acquisition of eSoles, Wiivv will have possession of data for over 50,000 3D foot scans, allowing for enhanced precision in the development of the company's future footwear products. In addition, consumers will experience further refinement to Wiivv's popular, custom-fit, 3D printed insoles, which are made using body-perfect™ capture and computer vision technology on a smartphone. Combined with the company's state-of-the-art adaptive manufacturing system, the foot scan data will allow Wiivv to customize products to fit consumers' feet more accurately than ever before.

"The highlight of 2016 has been the formation of a world-class team of innovators and partners, who are all passionate about the positive everyday impact we can have in people's lives with custom-fit footwear becoming available mainstream," says Shamil Hargovan, CEO and Co-Founder. "We will accelerate our vision of every shoe made custom to you, and will continue to learn and lead as we bring custom footwear to the masses."

This announcement comes on the heels of a momentous and formative year for the start-up. Following its Kickstarter campaign in early 2016, over 10,000 Wiivv Full-Length and 3/4-Length Insoles have been shipped across the world and the company has grown 10 times year-over-year. The company remains dedicated to cultivating a community of Wiivv champions with its Ambassador program; Retailer Program; and Corporate Wellness initiatives.

Wiivv's next product will launch in Spring 2017.

For more information, visit www.wiivv.com and/or follow us on Twitter, Facebook and Instagram.

About Wiivv

Wiivv Wearables Inc. (Wiivv) is a consumer products and adaptive manufacturing company that creates custom-fit, 3D printed footwear using body-perfect™ computer vision and capture technology. The company's first product-line, Wiivv Custom Fit Insoles are accessible to everyone via a smartphone and are available internationally (USA, Canada, UK, Australia, and New Zealand). Wiivv Insoles are 100% custom and biomechanically enhanced to promote better body alignment, reduced foot fatigue, and superior comfort and performance.

Founded in 2014 by two Forbes 30Under30 honorees, the Wiivv team is comprised of industry leaders in 3D printing and wearable technologies from companies including Apple®, HP®, Google®, Nike®, 3D Systems®, Land Rover®, and Microsoft®. Wiivv is headquartered in Vancouver, Canada with a manufacturing and R&D facility in San Diego, California.

About eSoles

eSoles makes custom insoles for cycling, running, walking, skiing, hiking, golf and dress shoes, and can currently be found in the footwear of world-class athletes and Olympians across various sports. Using direct, non-weight bearing imaging technology for custom and semi-custom insole production the company's suite includes: eSoles® footbeds, eFit®, ePro™, and the 3D TruCapture® Kiosk Scanning System.

About Eclipse VC

Eclipse Ventures, based on Silicon Valley, is redefining the way investments are made in hardware-focused companies. We see a world where hardware, robust software architecture, and compelling data insights are no longer three separate business models. Rather, they are the three pillars that define successful systems companies of the future.

About Evonik Venture Capital

Evonik Venture Capital is the corporate venturing arm of Evonik Industries, an industrial group from Germany and a world leader in specialty chemicals. Profitable growth and a sustained increase in the value of the company form the heart of Evonik's corporate strategy. Its activities focus on the key megatrends health, nutrition, resource efficiency and globalization. Evonik benefits specifically from its innovative prowess and integrated technology platforms.

About Real Ventures

Real Ventures is Canada's largest and most active early stage venture fund. Real invests in ambitious entrepreneurs who are creating the Internet experiences of the future, or embracing the power of the Internet to disrupt existing industries or business models.

About Asimov Ventures

Asimov Ventures is an early stage venture capital firm based in New York City and Seattle. They invest in their areas of expertise, 3D Printing and Robotics, and seek to partner with visionary entrepreneurs in relentless pursuit of opportunity.

Contact Information

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