Tyme Wear announced investments of ISK 200M from the New Business Venture Fund.

Iceland Investments 14 April 2020
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Tyme Wear, an Icelandic startup developing a wearable product for the sports vertical, announced raising $1.4 million in capital investment.

The money was provided by Iceland-based investor Nýsköpunarsjóður (The New Business Venture Fund), an evergreen fund owned by the government.

Tyme Wear, founded in 2014 by Arnar Lárusson (CEO) and Juan Carlos Morales, is developing a wearable fitness technology that helps athletes personalize their training by accurately measuring their fitness thresholds from their breathing. The product consists of a smart workout shirt and phone app that work together to create on-demand performance lab-quality insights. Soft sensors are integrated into the clothing in order to measure the wearers breathing and body movements 250 times per second, while algorithms analyze the data for insights that get displayed on the app.