Lakeland Industries, Inc., the world’s leading manufacturer of protective clothing for industry, healthcare and first responders at the federal, state and local levels, has extended its strategic investment in Inova design solutions Ltd. (which operates as Bodytrak®) for £ 3.5 million in accordance with the terms of the investment agreement of 18 October 2021, increasing its ownership stake to approximately 18%.
The additional investment will allow Bodytrak to increase momentum and manufacturing operations and continue to position itself at the forefront of the connected worker market.
Bodytrak acquires physiological data in real time from unique in-ear sensors and analyzes this data using artificial intelligence and uses cloud services to provide critical insights that protect workers from accidents caused by heat stress and fatigue. Bodytrak complements Lakeland’s portfolio of industrial protection solutions as the two companies target the growing smart PPE market segment.
With this investment, Lakeland maintains its position as the largest strategic investor in Bodytrak. Existing investors include the Internet of Things (“IoT”) specialist fund of pan-European venture capital investor Breed Reply.
“The extension of the investment from Lakeland comes at an opportune time as we accelerate our commitment to providing data-driven insights that enable our customers to make the right decisions to create a safer and more productive workforce,” he commented. Leon Marsh, founder and CEO of Bodytrak. “We share a vision with Lakeland to protect workers and promote safety and this latest investment is testament to our shared values and ambitions.”
Bodytrak is a UK-based data-driven company powered by science with a solution designed to protect people at work. Bodytrak protects workers from thermal stress and fatigue accidents with highly accurate in-ear sensors and a cloud-based data analytics platform, enabling intervention through an incident management dashboard and user alerts. Recognized by medical leaders and funded by publicly traded companies, Lakeland Industries Inc. and Reply SpA, Bodytrak is the only non-invasive solution of its kind on the market, driven entirely by data, to give your workforce the peace of mind of getting the work done safely.
About Lakeland Industries, Inc .:
Lakeland manufactures and sells a full line of industrial protective clothing and accessories for the industrial and public protective clothing market. Its products are sold globally by Lakeland’s internal sales teams, customer service group and authorized independent sales representatives to a network of more than 1,600 global distributors of industrial and safety supplies. Lakeland’s authorized distributors supply end users, such as integrated producers of petroleum, chemicals / petrochemicals, automobiles, steel, glass, construction, foundries, clean rooms, cleaning, pharmaceutical and high-tech electronics manufacturers, as well as scientific, medical and public service industry. In addition, Lakeland supplies federal, state and local government agencies and departments, such as fire and law enforcement, airport accident relief units, the Department of Defense, the Department of Homeland Security, and the Centers for Disease Control. Internationally, it sells directly to a mix of end users and industrial distributors depending on the particular country and market. In addition to the United States, sales are made in more than 50 foreign countries.
Inova Design Solutions (t / a Bodytrak) secures £ 3.5m investment from Lakeland Industries – UK technology investment news
Source link Inova Design Solutions (t / a Bodytrak) secures £ 3.5m investment from Lakeland Industries – UK technology investment news