Next Step Dynamics, a Malmö-based startup developing smart watches for the elderly care sector, has come into a cooperation with Swedish medtech giant Arjo, reports VA Finans. An agreement focusing on a two year contract has been signed.
Next Step Dynamics is a new startup, founded in 2016, and won just recently the Venture Cup in 2017. There are currently 9 people employed in the startup and the plan is now to expand, with 12 more to join the team – 7 of whom will work closely with Arjo.
The startup has developed a smartwatch that prevents elderly people from falling by sensors that continuously measure the balance, strength and sleep of the wearer. The risk profile is presented in e.g. a smartphone. Arjo will get an exclusive rights to commercialise and distribute solutions generated by this collaboration.
“With joint resources, we will take the products for preventive healthcare to the next level. For us, the partnership with Arjo also means access to industry expertise, thus reduced time to market, enabling us to serve urgent needs on the global market faster”, says Karthik Srinivasan, founder of Next Step Dynamics.
Cooperation on the development of these new gadget will begin now during the summer of 2018. Sales of the smart bracelet is expected to start in 2019.