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Strategic Ventures Impact Insights: March 2023 (Volume 1, Number 3)

SVR Global

28 Feb 2023

March 2023 (Volume 1, Number 3)

Impact Investing and Wearables

Wearable technology has been an active sector in the past 3 years, raising over $25B. This includes two companies (Elvie and Oura) which raised capital at a $1B+ valuation, 21 companies which raised capital at $100MM+ valuations, and a significant amount of early stage ventures positioned for high growth. The sports wearable market is primarily composed of devices designed to improve athlete performance and safety. Some current innovations include smart clothing, hearables, fitness bands, and smart patches. By 2030, the global market size is projected to surpass $390B. Our portfolio company WAVE applies wearable technology to support swimmer safety in pools across America.

"The Wearable Technology sector has over 5.1K+ startups that comprise companies that are engaged in providing a category of technology devices that can be worn by individuals or pets. This includes companies which manufacture wearable devices for fitness tracking like bands, shirts, pants, shoes and wearable devices for infotainment purposes."

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WAVE, a leader in drowning prevention systems, recently received a sizable grant from the Connecticut Center for Advanced Technology, enabling them to develop new products and move to more advanced, lower-cost manufacturing processes. A newer component of WAVE's Swimmer Protection System, which has recently been deployed, is the Lifeguard Entry Alert (LEA) System. This product targets recreational and commercial pools to aid lifeguards by providing alerts when swimmers have been submerged for too long.

  • WAVE recently won the 2023 FIT Sport Design Award within the Sport Equipment Design category

  • A recent research study shows that 93% of lifeguards surveyed agreed or strongly agreed that using WAVE could help save someone's life. Another 80% said WAVE helps lifeguards be more aware of how long swimmers are underwater.

  • The Company received a $72K grant from the Connecticut Center for Advanced Technology (CCAT) as part of its state-funded Manufacturing Innovation Program (MVP)

For more information about WAVE, please visit their website or contact us

AKOS Energy Corp has signed a multi-year technical services agreement with UNI-ARAB, a leading oilfield services provider in the Middle East. Purchases by UNI-ARAB of AKOS’s Cybercoil platform services will total at least $20 million over a three-year period.

AKOS combines traditional intervention services with innovative technology, certified by Saudi Aramco and deployed in Aramco wells. Its turnkey, intelligent coiled tubing solutions include all the technical and ancillary components required to perform enhanced well interventions, resulting in:

  • 85% decrease in water requirements

  • 66% less diesel fuel burned, reducing CO2 emissions

  • 65% reduction in costly down time

For more information about AKOS, please visit their website or contact us.

EMPEQ collects, quantifies, and presents building energy equipment data 50% to 80% faster than any current methods with EMPEQ’s Fast Site Survey(™) (FSS) application and cutting-edge One-Click Capture(™) technology. EMPEQ's growth continues to break records:

  • Monthly recurring revenue (MRR) is now over $20K

  • MRR growth is 7X since November 2022

  • The corporate-wide rollout for customer Johnson Controls is slated for March 31

For more information about EMPEQ, please visit their website or contact us.

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