Performance Lab has received an undisclosed investment from Intel Capital. Based in Auckland, New Zealand, Performance Lab is a provider of real-time exercise measurement analysis and virtual coaching solutions.
AUCKLAND, New Zealand, 26 June 2014 – Intel Capital, Intel Corporation’s global investment and M&A organisation, today announced an investment in Performance Lab, a developer and marketer of real-time exercise measurement analysis and virtual coaching software, based in Auckland, New Zealand. While the details of the investment were not released, the funding will be used by Performance Lab to advance product development and to accelerate international expansion.
Performance Lab is a New Zealand headquartered company that designs automated coaching technology for exercise and activity. Its ARDA product suite provides the next generation of intelligence for exercise and activity applications. The technology works across most fitness and wellness devices and provides automated coaching in real-time to optimise a user’s performance based on sensor detection, the user’s changing physiology, classification of their training, history, behaviours and goals. ARDA transforms readily available data into meaningful, relevant advice for consumers across smartphones and tablets.
“The sports, fitness, health and wellness sectors are fuelling strong global demand for smart gadgets,” said Sudheer Kuppam, Managing Director, Asia Pacific, Intel Capital. “Performance Lab’s suite of products provides enduring value to the smart gadgets that customers are incorporating into their health and fitness regimen.”
“We are looking forward to working with Intel,” added Waynne Dartnall, Chief Executive Officer, Performance Lab. “The combination of funding, together with technology, sales and marketing expertise, will help Performance Lab take our advanced coaching software to a global level.”
The investment was led by Deepak Natarajan, Director, Intel Capital, Southeast Asia, Australia and New Zealand, who will join Performance Lab’s board as an observer. This announcement follows investments of over US$100 million in more than 20 technology companies in Southeast Asia, Australia, and New Zealand since 1999. Intel Capital’s focus in the region includes mobility, security, cloud infrastructure and services, wearable technologies, and Internet of Things.
About Intel Capital
Intel Capital, Intel’s global investment and M&A organisation, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, mobility, consumer Internet, digital media and semiconductor manufacturing. Since 1991, Intel Capital has invested more than US$11 billion in over 1,366 companies in 55 countries. In that timeframe, 207 portfolio companies have gone public on various exchanges around the world and 353 were acquired or participated in a merger. In 2013, Intel Capital invested US$333 million in 146 investments with approximately 49 percent of funds invested outside North America. For more information on Intel Capital and its differentiated advantages, visit www.intelcapital.com or follow @Intelcapital.
About Performance Lab
Performance Lab is a product and technology development business specialising in the translation and diagnostics of exercise and activity data. With ongoing R&D, Performance Lab designs automated technology and programs for physiological testing, exercise and activity prescription, coaching, and training systems. Performance Lab focuses on automating the prescription of exercise by applying 25 years of elite coaching experience to real-time environmental and physiological data. Performance Lab uses meaningful diagnostics to create adaptive training tools for individual performance, team performance, and military performance, while also working on applications for the health and lifestyle market. Please visit http://www.performancelab.co.nz/ for more information regarding Performance Lab.