“They already have the customer base and the distribution and the marketing muscle and it’s a way to advance our vision to positively impact as many lives as possible,” Perkash told TechCrunch. Perkash also believes her technology could be integrated into everyday items such as clothing and glasses and that partnering with these larger companies gives Lumo the reach needed to get it to the next level. Eldercare is a fast-growing market worldwide, approaching about $400 billion in revenues in just the U.S. She did, however, mention a number of times that some of the technology provided would be based on fall detection and prevention, particularly for elderly patients. Already the startup says it is working with a handful of larger companies in the healthcare space - though CEO Monisha Perkash declined to provide names for the moment, telling TechCrunch some logistics still needed to be worked out before releasing those details. These third party partners will be able to integrate with Lumo to track health and fitness within products such as clothing, jewelry, and other everyday items.

Lumo, valued at $41 million according to Pitchbook, now plans to open up its proprietary tech stack - including software, algorithms, applications, and hardware - to third parties hoping to cash in on the wearables market.

As the fitness wearables market continues to climb, Lumo Bodytech, a startup making wearables focused on things like running and posture, has decided to further business revenue by licensing its platform.

Lumo jewelry