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Bengaluru, India, Apr. 16: One of India’s leading e-commerce platform Myntra on Monday announced that it has acquired Witworks, a Bengaluru based technology startup, focused on producing smart wearable devices and their underlying software.
As part of the acquisition Myntra has inducted the team into its Innovation Labs; further strengthening the company’s robust technology team and augmenting its product development capabilities.
“Wearables is currently a 300 crore industry in India and is growing rapidly, with online contributing 60 percent to the total business. This acquisition will help us to solidify our position in this segment and enable us to develop and launch cutting-edge wearable products like smart shoes, connected smart watches and interactive/intelligent clothing with biosensors,” said Jeyandran Venugopal, Chief Technology Officer, Myntra.