Tech start-up Muse Wearables has developed a smart ring equipped with advanced health tracking and ‘on the go payments’ (contactless payments) in addition to cuff-less blood pressure measurements.
Called ‘Ring One’, the product is set to be launched on September 27, 2023 globally and on October 25, 2023 in India. Muse has partnered with its contract manufacturers in Chennai to set up its manufacturing lines for Ring One, and the products are currently in the production stage.
George Francis, chief technology officer, Muse Wearables, said, “Ring One can measure 6 different vitals - heart rate, blood oxygen, temperature, respiratory rate, heart rate variability and blood pressure.”
Born out of the Indian Institute of Tehchnolgy - Madras’s (IIT-M) Incubation Cell, Muse Wearables is based out of Bengaluru with registered offices in Chennai, Singapore and the United States. The startup was founded by K.L.N Sai Prasanth and Yathindra Ajay K.A, graduates of IIT Madras, and K. Prathyusha, a National Institute of Technology (NIT), Warangal graduate.
“Our contract manufactures are based out of Chennai. The sensor units are made at our facility in Bengaluru. The final assembling happens in Chennai,” K.L.N. Sai Prasanth, co-founder and chief executive officer, Conzumex Industries, which operates the brand Muse Wearables, said.
Muse has partnered with payment networks including Mastercard, VISA and Rupay to make payments with the ring. The startup said that the payments will be live in India, USA, Canada, Europe, Australia, Singapore and U.A.E.
The startup has spent over ₹3 crore in technology and human resources for this product and is now looking at raising a Series-A funding round. The founders are looking at a funding of USD 8-10 million.
