Arion, a developer of smart insoles, has announced the successful completion of its latest multi-million dollar investment round for Deep Tech parent company Atogear, led by CEO Markus Hupach, former CEO of Sport 2000, since early 2022 (our sister publication The Outdoor Industry Compass reported at the time). The funds will be used to further develop the company’s proprietary technology platform that decodes human movement around the world.
A U.K. investment firm led the round along with Innovation Industries, a Dutch deep tech VC fund and existing shareholder in the company, representing a significant investment for the Arion brand. Continued interest from potential investors means further contributions will be raised for the round before a second closing is scheduled for late August 2023.
Based on cutting-edge motion science and proven technology, Arion develops innovations to capture and decode human motion data that add value at all levels of the sports and healthcare sectors.
“This investment represents a key moment in our journey, not just allowing us to accelerate our existing innovations but also providing exciting opportunities to move into new markets and introduce new solutions for professional athletes,” commented Hupach. “The funds raised will enable us to accelerate our growth and continue the development of our innovative technology.”
The newly secured capital will enable Arion to accelerate the development and commercialization of its technology solutions and pave the way for transformative advances in sports technology and health. With this investment, Arion aims to solidify its position as a key player in the deep tech landscape and further expand its ability to address critical challenges and drive innovation in the sports and health industry.
Due to the high level of interest in the financing round, the company and its shareholders have agreed to a second closing, which is scheduled for the end of August 2023.
