BikeBiz Bicycle and cycling retail news
Following several weeks of activity, Verve Infotec has announced its Crowd Sourced Funding raise via OnMarket has now entered its public round, and is on its way to raising its $3 million AUD
The Australian brand, known for its torque based cycling power meter, is now entering the next phase of its expansion.
The company has been focused on the development of the second generation InfoCrank IC2, which is due for release imminently, swiftly followed by the release of the health model in a few months.
Verve is now taking the InfoCrank technology and deploying it in the health setting as a preventative and restorative measure for Total Knee Replacement (TKR).
Bryan Taylor, Verve CEO, said: “We are committed to delivering accuracy, which is achieved with granular recording of force and acceleration coupled with the exact angle of the crank every few milliseconds.
“In the health world, accuracy is even more prized as health companies seek to produce better patient outcomes from operations such as Total Knee Replacements. Many parts of the process are quite controllable, but knowing exactly what rehabilitation the patients are doing adds a stream of quality information to the equation.”
Verve’s computer and measurement technology is hidden inside the crank arm and wirelessly communicates to the paired apps.
This means that the technology can be retro-fitted to many indoor and outdoor platforms – in the case of the health market, it is designed for use in the patient’s home.
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Verve’s vision is to be the go-to solution globally for everyone who wishes to accurately measure and quantify patient or athlete musculoskeletal conditions and improvements, whether that be elite cyclists or Total Knee Replacement (TKR) rehabilitation.
To achieve it, Verve is raising funds that will in part be used to fast-track the necessary app development to unlock the potential of the hardware.
Full details of the opportunity can be found online– https://www.onmarket.com.au/offers/verve infotec/ – and investors can invest from $500 AUD.
