Titan Company Ltd, an Indian luxury goods company; a joint venture between Tata Group and Tamil Nadu Industrial Development Corporation, has recently invested in a wearable IoT startup CoveIoT as per the reports by a financial daily.
The amount that has been invested is expected to be between $3-5 million, marking the first such investment by the giant in IoT space.
The development will be used to develop the product and its R&D, analytics etc.
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COVE is a registered brand of KaHa Pte Ltd, and is an end to end SMART IoT wearables platform that is a single window to brands to launch range of smart products. They focus on bringing wearable technology in everyday life, making it more enriching and safe.
Sources claim CoveIoT’s security and monitoring features can accurately track the location of an individual wearing the device.
(This development was first reported by ET)