According to a press release from Whoop, a firm that makes wearable health trackers, obtained $200 million in funding backed by SoftBank at a $3.6 billion value, making it the world's most valuable standalone human performance company.Whoop's band analyses a user's workouts, sleep, and activity, and then delivers advise on how to improve such behaviours via its app, similar to the Apple Watch.
Big picture: According to Allied Market Research, organisations ranging from IT giants to startups are investing in the fitness tracker market, which is estimated to reach $62 billion by 2023.
Tim Cook, Apple's CEO, has high expectations for the Apple Watch and wants the company's legacy to be in the health and wellness space.
Fitbit, a fitness-tracking firm, was purchased by Google for $2.1 billion this year. (This indicates Whoop is more valuable than Fitbit.)
Startups that create wearable sensors, such as Oura and Biofourmis, have also received significant funding in the last two years.
Whoop will be able to compete with the Big Tech companies interested in the field thanks to the funding.