Early-stage smart textiles firm Footfalls & Heartbeats, which has developed a proprietary process for manufacturing smart knitted fabric with the ability to measure pressure without the need for in-built electronics, has launched a public share offer with equity crowdfunding platform My Angel Investment.

Footfalls & Heartbeats’ equity crowdfunding campaign is part of a wider $2 million capital raising, representing 21 percent of the company’s shares. The equity crowdfunding campaign is seeking a minimum of $250,000 and a maximum $750,000, at a pre-money valuation of $7.49 million. 

Footfalls & Heartbeats’ business model is based on licensing its groundbreaking technology – for which it has patents pending – to companies for use in textile-based applications to deliver unprecedented functionality.

Applications for Footfalls & Heartbeats’ technology include compression bandages for diabetic ulcer prevention, compression garments for athletes, respiratory vests for cystic fibrosis sufferers, and even seat fabric which will help transport operators monitor passenger comfort, usage and capacity.

The firm recently secured its first major licensing agreement with German-based multinational medi GmbH & Co.KG, one of the world’s largest medical compression therapy companies whose products are sold in over 90 countries. 

It has also secured Letters of Intent from potential partners in the areas of hospital beds, wheelchairs and public transport, and further deals are being sought across the medical, military and transport industries worldwide. 

Footfalls & Heartbeats CEO Daniela McKenzie describes Footfalls & Heartbeats as “beautifully disruptive”. 

“Our process uses nanotechnology and textile structure which allow the fabric to generate minute electric signals, without the need for embedded wires or electronics – the fabric itself is the sensor.”

“The beauty of what we’ve developed is that it’s disruptive but not expensive. Our technology allows our partners to manufacture smart textiles on existing knitting platforms, without changing their manufacturing processes, with the use of conductive yarns.”

McKenzie says smart textiles will become ubiquitous within ten years, particularly as consumers get more engaged in managing their own health and well-being.

“The twin trends of the internet of things and the ‘quantified self’, where people and health practitioners will increasingly use connected devices to measure and manage vital signs, are only just beginning. 

“The global market for smart fabrics and intelligent textiles is expected to reach US$2.6 billion by 2018, and the quantified self market is estimated to be worth US$5 billion as soon as next year. 

“Footfalls & Heartbeats, with our visionary technology and solid intellectual property position, has global relevance and is well-placed to capitalise on these trends.” 

Footfalls & Heartbeats’ equity crowdfunding campaign closes on 7 September, 2015. Full details of the offer can be found on the My Angel Investment website at https://myangelinvestment.com/projects/footfalls-and-heartbeats/