Sitra and Conor invest in Omegawave Ltd

News
23 June 2013 18:57

Omegawave's unique physical activity measurement technology is to be made available to consumers.

Together with Conor Venture Partners and three other stakeholders, Sitra has invested a total of EUR 1.6 million in Omegawave Ltd. This firm's technology provides an easy way of measuring recovery readiness for physical activity. The investment supports Sitra's wider goal of encouraging people to take more interest in their own well-being.

"We view Omegawave as a particularly attractive investment target," says Sitra director Sami Tuhkanen. "Based on competitive, patented technology, the company aims to succeed in a strongly growing market. After long-standing use in several top sports teams, this technology is being brought to consumers in an easy-to-use form.”

Omegawave's unique approach uses a two-minute measurement to gauge the user's physiological condition. With mobile devices and sensors, this can be done anywhere. Through cloud services, measurement results are immediately available for use. They give information such as the following: physical stress level, cardiovascular stress level, development of physical condition and readiness for training.

The measurement technique has its roots in the Soviet space programme – the resulting technology has been used in top-level sport for over 10 years. Now, Omegawave offers consumers and professionals a sensor and mobile app-based analysis service, which performs cardiac and electrical brain activity measurements.

"In addition to assisting sportspeople and exercise enthusiasts, Omegawave's technology has intriguing potential for improving occupational well-being and lifestyles," explains Juha Pinomaa, CEO of Omegawave. "In Finland and the wider world, people are showing fast-growing interest in their well-being and physical condition. Omegawave provides an intuitive solution that meets this need.”

For Sitra, an enabler of economic growth, boosting the growth of health-based business is a priority: "Sitra is seeking to shift the healthcare focus towards health promotion, rather than waiting until illnesses develop. As a way of achieving this, we are investing in Finnish growth companies whose activities promote health and well-being,” says Antti Kivelä, a director at Sitra.

For further information, please contact:

Sami Tuhkanen, Director, Business Development and Investments, Sitra
Tel. +358 (0)40 548 3482, Sami.Tuhkanen@sitra.fi

Juha Pinomaa, CEO, Omegawave Ltd
Tel. +358 (0)40 500 0281, Juha.pinomaa@omegawave.com

Antti Kivelä, Director, Empowering Society, Sitra
Tel. +358 (0)40 548 7435, Antti.Kivela@sitra.fi


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