News

Movano Will Take On Oura With Their Evie Smart Ring For Women

The device can measure heart rate, skin temperature variability, clinical SpO2, and much more.

Published

2 years ago

December 29, 2022

Nour Nasir

Movano

Health-tech company Movano has just teased details of its first smart ring, named Evie. The device is designed for health and fitness tracking — including cycling — and bears a strong resemblance to Oura’s latest smart ring, as well as offerings from other companies. Movano plans to give the press and public a closer look at the device at next week’s CES 2023, claiming that the ring differs from other products, being uniquely developed for women.

Movano’s original design for the ring debuted at CES 2022 without a name, but the company has since changed several elements of the design, as well as the asking price. The new model will go on sale sometime in 2023, with a below-$300 price tag, and won’t be tied to a subscription.

movano evie smart ring for women

The Movano Health Evie ring offers several of the metrics seen on rings like the Oura, as well as those found in Apple and Android smartwatches. The device can measure heart rate, skin temperature variability, blood oxygen, steps, calories, and sleep, with a special focus on period and ovulation tracking. Wearers of the new ring will be able to get advice from health experts within the app, and the device will meet medical manufacturing standards.

Also Read: LG Preparing True Optical Zoom Lenses For Flagship Phones

“As a medical device, Evie will go beyond the status quo of other wearables on the market. We are bringing together medical-grade biometric data and insights in a comfortable and contemporary wearable,” says Movano CEO, John Mastrototaro.

As well as a broad suite of health data, Movano has promised high security and privacy standards when transferring data to the cloud or third-party health providers. Movano hasn’t yet achieved full FDA approval, which will probably dictate the final launch date. The Evie smart ring will be released in the USA at first, but should come to other markets later, though we’ll learn more about it next week at CES 2023.

News

Mamo Completes $3.4M Funding Round To Enhance Fintech Services

The startup will use the influx of cash to expand into Saudi Arabia and across the wider GCC while improving its product offering.

Published

1 day ago

July 25, 2024

Nour Nasir

Mamo

UAE-based fintech Mamo has announced the completion of a $3.4 million funding round that will help the startup extend its market presence and improve its product offering. Investors included 4DX Ventures, the Dubai Future District Fund and Cyfr Capital.

Mamo’s platform offers “payment collection, corporate cards and expense management” to help small and medium-sized businesses consolidate and streamline their operations. With the latest influx of capital, Mamo will further develop its comprehensive suite of services and begin testing its product lines in Saudi Arabia, further extending its footprint across the GCC.

Imad Gharazeddine, co-founder and CEO of Mamo, stated: “We’ve been in the market for a while now and are incredibly proud of what our team has achieved. The holistic and expansive nature of our product offering has helped us continue to grow sustainably. This additional funding will allow us to reach our medium-term goals even faster. The support from new and existing investors is a testament to our strong expertise and the ability to deliver on our customer promise”.

Daniel Marlo, General Partner of lead investor 4DX Ventures, added: “We have immense trust in Imad’s vision, leadership and Mamo’s innovative approach to provide a user-friendly and comprehensive financial solution for SMEs that makes financial management more accessible and efficient. We are proud to partner with them and support their mission”.

Also Read: A Guide To Digital Payment Methods In The Middle East

Amer Fatayer, Managing Director of Dubai Future District Fund’s investment team, also commented: “Mamo’s localized product lines serve as an infrastructure for SME payments and spend management in UAE, a segment that is underserved by the country’s current banking infrastructure. The team has taken a product-first approach to consolidating SMEs’ financial journeys and building a fintech solution deeply embedded in a business’s core operations”.

To date, Mamo has raised around $13 million in investment funding and now boasts a team of 30 people. The company’s intuitive financial services platform has allowed over 1,000 businesses to consolidate their financial operations and significantly reduce payment fees.