Key Points:
- Acquisition of SocialBoat: Noise, a Gurugram-based audio products and wearables company, has acquired AI startup SocialBoat. This strategic move aims to enhance Noise’s AI-powered fitness and wellness capabilities, particularly for its smart ring wearable Luna.
- SocialBoat’s Expertise: SocialBoat, founded in 2022, specializes in using artificial intelligence to address health challenges such as menstrual health, PCOS, and thyroid disorders. They have developed innovative solutions like Sakhi, a generative AI chatbot, to provide data-driven insights and solutions to women’s health queries.
- Leadership Transition: Swapnil Vats, cofounder of SocialBoat, will lead the development of Luna Ring at Noise. His expertise in AI and wellness applications is expected to contribute significantly to enhancing Luna Ring’s sophisticated health and fitness measurements.
- Technological Integration: Luna Ring is powered by advanced AI technology, including OpenAI’s GPT-40, trained on a massive dataset comprising over 20 million Noise users and more than 1 billion lines of data. This enables Luna Ring to collect user data throughout the day and offer personalized advice akin to a fitness coach and analyst.
- Strategic Vision: Noise cofounder Amit Khatri expressed confidence in the strategic acquisition, highlighting its potential to drive innovation in Luna Ring. Despite facing competition from both domestic and international players, Noise remains committed to enhancing the smart wearable experience and transforming people’s lives.
- Financial Performance: Despite a significant reduction in net profit to INR 88 Lakh in FY23, attributed to increased expenses, Noise’s acquisition of SocialBoat underscores its determination to lead in technological advancement, promising exciting developments in AI-powered wearables.
In a move signaling its commitment to revolutionize health-specific innovation in wearable technology, Gurugram-based audio products and wearables company Noise has acquired AI startup SocialBoat. This acquisition aims to bolster Noise’s AI-powered fitness and wellness capabilities, particularly for its smart ring wearable Luna.
Founded in 2022, SocialBoat has been at the forefront of using artificial intelligence to address various health challenges such as menstrual health, PCOS, and thyroid disorders. Swapnil Vats, one of the founders of SocialBoat, expressed his enthusiasm about leading Luna Ring’s development in a LinkedIn post, highlighting the smart ring’s ability to track and analyze over 70 biomarkers continuously throughout the day.
SocialBoat’s innovative approach includes leveraging AI methods to provide data-driven insights into women’s health issues. Their creation, Sakhi, a generative AI chatbot, has been instrumental in offering solutions to health and hygiene queries. The startup’s prowess in AI caught the attention of investors, as evidenced by the $200K raised in an angel fundraising round last year.
The integration of SocialBoat’s expertise into Noise’s ecosystem marks a strategic move to enhance Luna Ring’s capabilities. Swapnil Vats, now a part of Noise’s innovation team, brings with him a wealth of experience in utilizing AI for wellness applications, which will undoubtedly contribute to refining Luna Ring’s sophisticated health and fitness measurements.
Powered by cutting-edge AI technology, Luna Ring utilizes massive language models, including OpenAI’s GPT-40, trained on a vast dataset comprising over 20 million Noise users and more than 1 billion lines of data. This enables Luna Ring to collect user data throughout the day and provide personalized advice akin to a fitness coach and analyst.
Amit Khatri, cofounder of Noise, expressed confidence in the strategic acquisition, emphasizing its potential to drive innovation in Luna Ring. He underscored Noise’s commitment to enhancing the smart wearable experience, citing the recent incorporation of AI into Luna Ring as a testament to their dedication to transforming people’s lives.
Founded in 2014 by Amit Khatri and Gaurav Khatri, Noise initially gained prominence by offering smartphone cases and accessories before expanding into smart wearables and wireless headphones. Despite facing stiff competition from both domestic players like boAt and international audio and wearables companies, Noise has remained steadfast in its mission to innovate and redefine the wearable technology landscape.
However, Noise reported a significant reduction in net profit to INR 88 Lakh in FY23, down from INR 35 Cr in the previous fiscal year, attributed to a surge in expenses. Despite this setback, the acquisition of SocialBoat underscores Noise’s determination to remain at the forefront of technological advancement, promising exciting developments in the realm of AI-powered wearables.
Pic Source: https://www.socialboat.live/
