Nýsköpunarsjóður has sold its stake in Tyme Wear Inc., a sports technology company specializing in advanced monitoring devices for athletes, to a group of experienced investors, enhancing the company's potential for growth and market expansion.

Target Information

Heim Fréttir Nýsköpunarsjóður has recently completed the sale of its stake in Tyme Wear Inc., a technology company known for producing VitalPro devices that monitor breathing and heart rate. Founded by Arnar Lárusson, Tyme Wear specializes in advanced athletic equipment, which has gained popularity among elite athletes around the world.

The VitalPro devices are specifically designed for athletic training and are currently utilized by notable sports figures including Visma Lease a Bike, a two-time Tour de France champion, the Norwegian Olympic Committee, and Kilian Jornet, one of the most renowned trail runners globally. This diverse clientele exemplifies Tyme Wear's robustness in catering to both professional and amateur athletes.

Industry Overview in Iceland

The sports technology industry in Iceland has been on a growth trajectory, reflecting a larger global trend towards health and fitness solutions that leverage technology. The incr