Advertisement

WearOptimo signs up Formula One hero Webber to hit fast lane

Brisbane medical technology company WearOptimo has signed up former Formula 1 driver Mark Webber as a strategic investor for an undisclosed amount.

Jun 29, 2023, updated Jun 29, 2023
Former Formula 1 chamption Mark Webber (Photo: Red Bull Racing)

Former Formula 1 chamption Mark Webber (Photo: Red Bull Racing)

The company, which is developing microwearable technology, is in the final stages of a capital raising through Venture Crowd. It has raised $1 million so far at $1.75 a share and has a maximum goal of $2 million.

It has previously raised $32 million in equity and grants and is in clinical trials through QUT for a sensor which monitors hydration.

Webber said the technology would have applications in elite sport and admits that his competitive nature could prove frustrating for WearOptimo.

“I always want things to be faster,” he said.

But he said it would be jolting the company in a positive way.

The company already has key investors including the Australian National University, Aspen Medical.

Founder Professor Mark Kendall said Webber would be able to provide an insight into the demands of elite athletes.

InQueensland in your inbox. The best local news every workday at lunch time.
By signing up, you agree to our User Agreement andPrivacy Policy & Cookie Statement. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

“It’s that knowledge that is so powerful,” he said.

The company described Webber’s involvement as an investor and strategic partner.

The capital raising ends tomorrow (Friday).

 

Local News Matters
Advertisement

We strive to deliver the best local independent coverage of the issues that matter to Queenslanders.

Copyright © 2024 InQueensland.
All rights reserved.