Digital identity startup Proxy acquires wearable technology company Motiv

From: RegTech Analyst

Proxy is planning to make a big leap forward into how connected devices are being used by acquiring Motiv, the startup behind an internet of things (IoT) enabled ring.

“We are thrilled to welcome the Motiv team to Proxy – it’s an incredible group of technologists that built many of the components and manufacturing processes of their breakthrough smart ring from scratch,” said Denis Mars, CEO of Proxy. “They won numerous innovation and design awards and ultimately created what is now widely regarded as the most advanced and innovative smart ring wearable on the market.

“Equally exciting is what this means for the future of wearables as a category. At Proxy, we believe wearable technology is still in its infancy. Wearables are where mobile phones were in in the 90s, the flip phone days. For the most part, they have been relegated to fitness and sleep tracking, when we see more profound purposes possible.

“With this acquisition, Proxy plans to bring digital identity signals to smart rings for the first time and revolutionise the way people use technology to interact with the world around them. We believe it’s possible to ignite a paradigm shift in how people use wearables to interface with the physical world, so they can do and experience things they never have before.”

He added that Proxy was established on the back of a “vision of a universal identity signal that each individual owned and controlled” that has seen the digital identity company start by focusing on smartphones. Now it believes that Motiv’s technology can herald the next step towards realising the vision.

Copyright © 2020 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.