Computing company Intel has closed the acquisition of BASIS Science, a US-based developer of wearable health technology and a portfolio company of its corporate venturing unit Intel Capital, for $100m.
Intel Capital participated in BASIS Science’s $23.3m series B round in October 2013 along with venture capital firms iNovia Capital and Peninsula-KCG, Dolby Family Trust, Stanford University and existing investors Mayfield Fund, DCM and Norwest Venture Partners. BASIS previously raised $9m in series A funding in 2011.
Founded in 2010 as Pulse Tracer, BASIS has produced a wrist-based health tracker and online personal dashboard, which uses a variety of sensors to measure health indicators such as heart rate, sleep quality, steps taken and calories burned.
Intel said the purchase comprised part of a wider strategy to expand innovation across a range of wearable devices. BASIS will continue to sell its wristband through existing retail channels and will also work with the wider Intel corporation on future initiatives.
“The acquisition of BASIS Science provides immediate entry into the market with a leader in health tracking for wearable devices,” said Mike Bell, Intel vice president and general manager of its New Devices Group. “As we accelerate our position in wearables, we will build upon this foundation to deliver products that bring people greater utility and value. I’m confident that our collective resources and expertise positions us well for the future.”