LifeBooster, a Vancouver-based provider of connected worker risk analytics technology, has secured financing. No financial terms were disclosed. The round’s investors included WL Gore & Associates, which will partner with LifeBooster to develop a line of co-branded smart workwear products.
VANCOUVER, BC, Aug. 24, 2021 /PRNewswire/ — LifeBooster today announced the closing of an investment round from local, international, and strategic investors, including W. L. Gore & Associates, Inc. (“Gore”). The investment will enable LifeBooster to extend their lead in connected worker risk analytics technology. As part of their investment, Gore will also embark on a multi-year plan with LifeBooster to introduce a line of co-branded smart workwear products that takes the assessment of injury risk and worker protection to an entirely new level of form, function, and value. #smarttextiles
Both companies bring unique qualities and capabilities to their collaboration. LifeBooster’s extensible cloud platform can assess multiple injury risks to workers in industrial environments simultaneously (motion, posture, thermal stress, and vibration), and further is able to process data from most any sensor-based source. Gore’s world-class GORE-TEX brand and expertise in high performance apparel, including workwear, is widely respected and well known.
David Dillon, Leader of Gore’s Smart Apparel opportunity, speaking on why Gore made the investment says, “Our continued pursuit of smart apparel, which is a high-growth area of our business, is accelerated by this collaboration with LifeBooster. The company’s vision, experience, capabilities and values are a great match for Gore, and we are confident the products we bring to market will make a meaningful impact on reducing workplace injuries.”
Bryan Statham, Co-founder and CEO of LifeBooster reinforced Mr. Dillon’s point of view by saying, “This investment and collaboration with Gore represents a major milestone in the development of LifeBooster; it validates the work and commitment our team has made to improve the health and safety of billions of workers worldwide. The LifeBooster team knows that we could not have engaged a better partner for this exciting new stage of our journey. Together with Gore, we’ll deliver the very best safety products and services to market and strengthen our core mission of ensuring workers get home safe every day.”
Industry analysts are uniform in their assessment for growth in the smart apparel or e-textiles business, estimates range from a 19-29% CAGR through 2030. Smart apparel aligns to the trend toward the digital enterprise and offers numerous ease of operation advantages over traditional wearable attachment methods. LifeBooster and Gore will announce their first product to market in the near future. Parties interested in receiving this announcement can send a request to email@example.com.
LifeBooster is a risk analytics company. Our connected worker platform, Senz™ delivers all-in- one assessments on repetitive strain (motion), thermal (heat stress), posture, and vibration risks using small, lightweight wearable sensors purpose-built by us resulting in an outstanding return on investment per risk assessment. We optimize risk reduction in the workplace by innovating sensor technology, smart garments, data science and business methods for safety professionals and enterprise teams. LifeBooster Senz is architected for the new digital enterprise and supports businesses of any size and the essential workers they employ across all sectors of the industrial economy to ensure their teams get home safe every day.