NoWatch Chronos

Nowatch adds watch faces to a fitness tracker that vows not to interrupt you

NoWatch Chronos

Image Credits: Haje Kamps (opens in a new window) / TechCrunch (opens in a new window)

I first ran into Nowatch at CES last year, and its founders have been hard at work to evolve the product over the past year, packing in a bunch of AI-powered insights into its wearable jewelry that’s shaped like a watch, but doesn’t interrupt you or, well, do anything other than track you and look pretty. Including, perhaps somewhat ironically, adding watch faces to the wearable that is called “Nowatch.”

“Our philosophy is centered around ‘quality time,’ and this extends to our new products, such as the time discs,” defends Hylke Muntinga, founder at Nowatch, when TechCrunch spoke with him at CES 2024. “People need time management tools for various activities. Our approach now integrates these needs, positioning us as a premium smartwatch brand that stands out in the market.”

The Chronos inserts for Nowatch turns the Nowatch into a watch. Yeah, I don’t quite get it either. Image Credits: Nowatch.

The founders say that the Nowatch Chronos inserts have a 20-year battery life and that the battery can be replaced. The ability to insert different watch inserts does open the possibility to include a huge variety of designs in a single smartwatch system — while the underlying tech that tracks your health stays hidden away and invisible — unless you choose to pull it up on the companion app.

The product is a relief within the constant buzz of notifications and fitness goals and the relentless race against time. The company has retooled as a B Corp and is doubling down on its promise to bring calm, mindfulness and a deeper understanding of one’s body and mind. This is a remarkable shift from the norm, where wearables often create more stress than they alleviate.

The design philosophy behind the device is centered around the understanding that wearables need to be, well, worn — a concept often overlooked among an ocean of soulless plastic-and-glass fitness trackers. To spruce things up a bit, the company uses interchangeable discs made of polished metal and gemstones, allowing users to customize the device to fit their style and mood, day or night.

Bring on the AI

The company uses its AI back end to learn the wearer’s biorhythms and can send gentle personalized vibrations to remind you to calm the hell down, already. The basic idea is that it empowers users to respond to stress triggers more effectively, fostering resilience and promoting overall well-being.

One way to improve well-being is to introduce an element of accountability (read: peer pressure), and the company has taken an interesting tack to enable that.

“We have features for sharing data, like heart rate monitoring, which can be especially useful for people like my mother, who has a pacemaker,” Muntinga says. “I would like to see if her heart rate heart is going into certain zones that might be worrying. Our users can choose to enable notifications to support circles.”

Perhaps unusual for smart devices, Nowatch takes the tack that data rights are human rights, meaning that users have full control over their data and can decide where their data is stored, who they share it with and how they use it.

The team didn’t want to tell me exactly how many units the company has sold to date, but suggests it is in the thousands. He also points out that the company is seeing increased interest in B2B sales, especially in stress management and scientific research.

I love a good oddball curveball company, and it was interesting to see the company continue to grow and evolve.

Read more about CES 2024 on TechCrunch

NoWatch Chronos

Nowatch adds watch faces to a fitness tracker that vows not to interrupt you

NoWatch Chronos

Image Credits: Haje Kamps (opens in a new window) / TechCrunch (opens in a new window)

I first ran into Nowatch at CES last year, and its founders have been hard at work to evolve the product over the past year, packing in a bunch of AI-powered insights into its wearable jewelry that’s shaped like a watch, but doesn’t interrupt you or, well, do anything other than track you and look pretty. Including, perhaps somewhat ironically, adding watch faces to the wearable that is called “Nowatch.”

“Our philosophy is centered around ‘quality time,’ and this extends to our new products, such as the time discs,” defends Hylke Muntinga, founder at Nowatch, when TechCrunch spoke with him at CES 2024. “People need time management tools for various activities. Our approach now integrates these needs, positioning us as a premium smartwatch brand that stands out in the market.”

The Chronos inserts for Nowatch turns the Nowatch into a watch. Yeah, I don’t quite get it either. Image Credits: Nowatch.

The founders say that the Nowatch Chronos inserts have a 20-year battery life and that the battery can be replaced. The ability to insert different watch inserts does open the possibility to include a huge variety of designs in a single smartwatch system — while the underlying tech that tracks your health stays hidden away and invisible — unless you choose to pull it up on the companion app.

The product is a relief within the constant buzz of notifications and fitness goals and the relentless race against time. The company has retooled as a B Corp and is doubling down on its promise to bring calm, mindfulness and a deeper understanding of one’s body and mind. This is a remarkable shift from the norm, where wearables often create more stress than they alleviate.

The design philosophy behind the device is centered around the understanding that wearables need to be, well, worn — a concept often overlooked among an ocean of soulless plastic-and-glass fitness trackers. To spruce things up a bit, the company uses interchangeable discs made of polished metal and gemstones, allowing users to customize the device to fit their style and mood, day or night.

Bring on the AI

The company uses its AI back end to learn the wearer’s biorhythms and can send gentle personalized vibrations to remind you to calm the hell down, already. The basic idea is that it empowers users to respond to stress triggers more effectively, fostering resilience and promoting overall well-being.

One way to improve well-being is to introduce an element of accountability (read: peer pressure), and the company has taken an interesting tack to enable that.

“We have features for sharing data, like heart rate monitoring, which can be especially useful for people like my mother, who has a pacemaker,” Muntinga says. “I would like to see if her heart rate heart is going into certain zones that might be worrying. Our users can choose to enable notifications to support circles.”

Perhaps unusual for smart devices, Nowatch takes the tack that data rights are human rights, meaning that users have full control over their data and can decide where their data is stored, who they share it with and how they use it.

The team didn’t want to tell me exactly how many units the company has sold to date, but suggests it is in the thousands. He also points out that the company is seeing increased interest in B2B sales, especially in stress management and scientific research.

I love a good oddball curveball company, and it was interesting to see the company continue to grow and evolve.

Read more about CES 2024 on TechCrunch

Connected fitness is adrift post-pandemic

Peloton Tread, man running on the treadmill while watching workout video

Image Credits: Peloton

Over the past four years, the connected fitness space has experienced some of the highest highs and lowest lows in the venture world. According to figures from Crunchbase, funding — predictably — peaked in 2021. As a whole, the fitness category accounted for $6.4 billion raised over 376 rounds.

In May of 2021, Peloton announced that it would be funding an Ohio-based production facility to the tune of $400 million. That was a drop in the bucket: The company generated $4.13 billion in revenue for the year, more than a 40% increase over 2020.

On Monday, the fitness company announced that it was seeking to refinance its debt. It also entered into a five-year, $1 billion loan as it looks to bring on a new CEO following Barry McCarthy’s exit earlier this month after two years with the company. Ultimately, Peloton got high on its own supply, assuming that pandemic-fueled gains were the new normal.

Competitor Tonal (which Peloton had reportedly considered acquiring in 2022), laid off more than one-third of its staff in 2022. In April 2023, it announced a new CEO and a $130 million round at a significantly reduced valuation. Still, it was more than happy to offer a trade-in program at the end of the year, after Lululemon stopped sales of its Mirror devices.

The pandemic has certainly had long-term impacts on the economy. For instance, while work from home has obviously declined from its COVID heights, a report earlier this year notes that it’s still in the area of three to four times more common than it was in 2019. Connected fitness’ big bet was that while some regression was inevitable, the cultural shift was going to be permanent.

Ultimately, however, many were eager for a “return to normality,” and arrival of vaccinations, coupled with lowered rates of infection, emboldened many to get back to the gym. Unlike commuting into an artificially lit cubical farm five times a week, plenty of people genuinely enjoy the experience of working out in person.

The struggle isn’t universal, however. Hydrow, which raised $55 million in 2022, purchased a majority stake in AI-based strength training firm Speede Fitness earlier this month. The firm has done a good job capitalizing on interest around rowing machines, even as Peloton’s answer to the category was entirely overshadowed by its very public struggles.

Despite some major regressions and broader economic headwinds, there’s always money to be raised if you’ve got a compelling enough product. Ultimately, however, those rounds should be consistently lower than they were in the home fitness salad days. For a recent example, Kabata, the maker of the “world’s first AI-powered dumbbells,” announced a $5 million seed round on Tuesday. That’s follows a $2 million seed round raised in May 2022.  

I wouldn’t want to be a connected fitness firm raising in 2024. As my financial adviser recently told me, “the best time to buy a house is last year.” When you’re working to bring a product to market, you can’t always wait until the market forces are ideal. Seems that we may never see the likes of 2021 again for connected fitness.