According to research estimates, wearable devices shipments will grow at a CAGR of 29% between 2016 and 2020. By 2020, wearables will represent a market worth $40 Billion with over $240M annual unit shipments. The Global Health and Fitness Mobile market are currently worth $4B now and it’s predicted to be worth $26 Billion by 2017. There is more than 60% of drop-off rate by users after getting a fitness tracker/app. Boltt is here to usher in a new wave in this exponentially growing market of connected fitness solutions.
A Noida based privately held company, Boltt Sports Technology was founded in 2016 by Arnav Kishore and Aarushi Kishore.
The vision behind ‘Boltt’ was essentially to come up with a brand that houses technologically advanced fitness products/devices at affordable prices. Consequently, the idea advanced to make fitness technology accessible to masses. The reason why they wanted to move ahead with the same was to encourage more and more people globally, to engage in self-care by opting for self – driven fitness mediums and help them in enhancing their overall health and lifestyle.
The venture was envisioned as a game changer, bringing together wearable and artificial intelligence to create a connected ecosystem of guided fitness. It will act as means to empower people to improve their health and lifestyle.
Boltt is committed to bringing the best “connected fitness solutions” to the world. Their customized smart solutions around health, fitness and sports performance is a unique integration of technology and fitness bundled together in a single offering.
With a commitment towards invention, Boltt is dedicated to improvising every aspect of our lifestyle and fitness habits. From the audience in India, they need love and support to make a mark as young Indian brand, trying to create a wave in the global markets.
While speaking about the key features of the company, Arnav Kishore, CEO, Boltt said, “One of the key features of Boltt is the ability to innovate and be able to convert large chunks of data into valuable insights and guidance, using virtual coaching. The aim is to provide a 24*7 text coaching and user interaction guides, supports a fitness enthusiast in eating healthier, getting more active, and building great lifestyle habits with constant coaching and motivation.”
Boltt has invested around $1 million into the business so far. Their monetization model includes selling hardware along with the App subscription. The Boltt App also works on a BYOD model via monthly, quarterly and annual subscription plans.
The company distributed the products to some of the key people belonging to their inner circle which comprises of experts, influencers and a few chosen users in order to gage some form of feedback on the products and the user experience alike. Boltt also believes in the idea of continued innovation, and therefore they collectively work towards giving life to this notion. Consequently, they have been working on new sensor forms that could prove unique in future. They have plans for B2B integration besides the core B2C propositions.
Boltt wants to take a step further and disrupt the status quo, while AI sounds very exciting and futuristic to them; it is like entering a black hole. It’s a space that people have not yet explored completely and recalling back to 2016, and there were very limited examples of well implemented AI in general.