Canada-based orthotics company Wiivv Wearables secured an undisclosed amount in funding yesterday from industrial group Evonik’s corporate venturing division Evonik Venture Capital, as well as Formation 8 and Real Ventures.
Wiivv’s technology enables mass-production of 3D-printed insoles which are specifically made for a user’s particular needs, The company has long-term ambitions to also integrate sensors in the insoles to collect data.
The company uses a material known as polyamide 12, made by Evonik, to 3D print the insoles. Wiivv plans on making the product commercially available by autumn 2015.
Bernhard Mohr, head of Evonik Venture Capital, said: “Wiivv’s business is an ideal match for Evonik. Through our investment in Wiivv, we’re supporting the market launch of one of the first individualized mass-produced articles to be manufactured by 3D printing.
“This also gives Evonik access to the highly innovative growth market for wearables, which are electronics worn on the body.”