Hong Kong-based Hubble buys majority stake in wearable devices startup Connovate
Hong Kong -based Hubble Connected Ltd, a provider of Platform-as-a-Service (PaaS) for connected home devices, has acquired majority stake in Bangalore-based Connovate Technology Pvt Ltd, a wearable devices maker that is operating under the brand name Gecko, for an undisclosed sum.
"The network of connected devices is growing exponentially," says Dino Lalvani, chairman of Hubble. "We believe Connovate's team and technologies are among the most innovative currently available. Our investment will allow Connovate to expand its product offering, while Hubble continues its growth as a leading platform provider for IoT," he added.
Founded in 2012 by Bahubali Shete, Kirankumar Rajarao and Sundaraparipurnan Varadarajan, Connovate is a design-engineering and product solution firm with a focus on consumer electronics and home automation markets. Its flagship product Gecko can also work as a track-and-find leash for Android device, etc. It currently supports iOS and Android 4.3 devices.
In October last year, the firm raised more than $54,000 from Indiegogo crowd-funding platform. Apple Inc co-founder Steve Wozniak also contributed to this.
In an earlier interaction with Techcircle.in, Shete had said that Gecko's focus was to create an IoT enabler platform and he was seeing massive opportunities with its wearable products.
"Wearables is a big market anywhere in the world. Most of the wearable technology being made elsewhere in the world is gaining traction more by the enthusiasts than the actual needy ones. Indian market demands mostly good utility-based solution rather than just another technical gadget. Any wearable technology that can help needy ones - women and senior citizen will gain traction in India than another smart watch," he had said then.
Hubble creates cloud-based applications and services for a range of consumer electronics. Hubble supports Motorola's range of connected cameras - each built to suit specific baby, pet and home surveillance requirements. Its products and business interests include PetSafe (a provider of pet accessories), VTech (a provider of home telephone handsets), Tatung (a digital consumer products and smart home solutions firm), and Binatone (a provider of telecommunications solutions). The startup has offices in the UK, Canada and Vietnam, besides Hong Kong.