Somatix Selected as Minicorn and Leader of Wearable Technology
NEW YORK, April 20, 2022 (Newswire.com) - Somatix has been included in the Emerging Startups of Wearable Technology list, an Emerging Award series that recognizes the topmost companies in Wearable Technology from across the globe. Somatix has been showcased as a Minicorn and is amongst the leading tech startups of Wearable Technology.
Somatix developed algorithms that can detect and contextualize -- using nothing but a simple smartband -- a number of daily actions that have a big impact on health and wellness. Among these actions is drinking, smoking, and medication intake. The algorithms use standard sensors in a wearable to track the unique movement of the wrist for each of these actions. The data can get as granular as the volume of water consumed, or the number of puffs of a cigarette. The technology empowers users and their care teams to keep a detailed track record of their habits without any manual reporting.
The Tracxn Emerging Awards is an initiative by Tracxn to publicly recognize the top global companies across sectors. Apart from the well known Unicorns, they highlight the companies that have the potential to become Unicorns in the longer run (the Minicorns). These ratings are based on a detailed analysis by their internal sector specialist teams coupled with a combination of multiple publicly available signals such as market size, investment by marquee investors, execution excellence and future growth prospects.