The companies’ new agreement grants SFIO exclusive rights to sell NeuroSky’s products in New Zealand and the United Arab Emirates, as well as non-exclusive distribution rights in the United States, Malaysia, Singapore, Thailand, and “other countries yet to be determined,” according to a statement announcing the partnership.
NeuroSky has garnered attention through its headsets equipped with EEG biosensors that are designed to essentially detect the wearer’s brainwaves. But the company also offers a number of other wearable products equipped with ECG sensors, such as wristbands and watches, that can track other health-related physiological metrics.
SFIO says it will initially rollout NeuroSky products in retirement communities, marketing them as solutions to track users’ wellbeing and alert medical professionals in emergency situations. SFIO aims to sell at least 100,000 units within the first eighteen months of the initial rollout, generating somewhere between $10 and $15 million in revenues.
More broadly, SFIO will market NeuroSky’s various wearables across multiple industries, including construction, education, and healthcare, “asa quantitative way to ensure community health in a post-pandemic world, focusing on the communities that have proven to be most vulnerable to communicable diseases,” the company explained.
Beyond that, SFIO plans to launch its own health-tracking wearables brand based on a collaboration between its software development teams and the engineers and developers at NeuroSky.
The distribution agreement reflects growing interest in health-tracking wearable devices, with venture capital pouring investment into the space over the past year. BioIntelliSense, for example, raised $45 million in a Series B funding round this past summer, and sports and athletics-focused WHOOP raised $200 million in a Series F round in September.