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Bodytrak to launch GBP1m seed investment campaign on Capital Cell

Bodytrak, the first in-ear, multi-parameter body monitor and cloud analytics platform, is launching on Capital Cell, a dedicated life sciences equity crowdfunding platform, with the aim of reaching a GBP1.0 million seed-investment target.

Since its launch at CES in early 2017 Bodytrak has already attracted significant attention from a range of industries, the media and investors alike.
Bodytrak will be available for investment from Monday 16 October, with potential backers able to view the opportunity and pledge on Capital Cell’s discovery page 9 October. The company has already been backed to the tune of GBP3 million by several major players  including Innovate UK, DSTL (the science and technology provider to MOD) and Bodytrak’s major stakeholder, Breed Reply – part of the EUR780 million Reply Group (2016 revenue).
Bodytrak has already secured over 40 enterprise trials with international organisations such as fire and rescue services, defence organisations (such as the MOD, US special forces), energy and utility companies, NHS and elite sports teams.
Breed Reply, Bodytrak’s lead investor, is following their investment in the current round. Matthew Scherba, Partner at Breed Reply, says; “Bodytrak is an exciting IoT-based company, with a clear technological lead with their non-invasive, gold-standard, in-ear physiological monitoring solution. Their combination of unique hardware and recurring platform revenue is able to service compelling cross-sector applications in health, wellness and health and safety, with significant early traction already gained in each of these markets. These, along with the development of the management team, and our belief in their ability to execute, are the key reasons Breed Reply is re-investing in Bodytrak.”
Investors can pledge as little as GBP250 to support the company and, while there is no guarantee of investors seeing a return, industry examples suggest they may receive a return in the order of 10 times their investment at exit in three to five years if the company is successful. The company qualifies for EIS-relief, so investors should be able to claim tax relief (subject to HMRC rules).
Leon Marsh, Founder and CEO at Bodytrak says: “The wearable market largely comprises wrist-based and ear-worn devices, with an aggregate size of USD25 billion (CCS Insight 2019 forecast). While the market is currently roughly split down the middle in size, ear-worn wearables are growing at 10 times the rate of wrist-based devices, as the ear has proved a far more reliable site over the wrist for quality of data. Bodytrak anticipates occupying a significant portion of the enterprise section of this market and has already been well received among the investor community as well as directly with a range of high profile industry players”. 

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