Taipei-Taiwanese manufacturing giant Hon Hai Precision Industry Co. said Wednesday it plans to invest £1 million (US$1.38 million) in a British startup to help develop and produce a wearable device for people who are plagued by hand tremors.
In a statement, Hon Hai said it is joining GyroGear as a major investor and board member, and will contribute £1 million in a seed funding round. Under the investment plan, the funds will be used to help develop GyroGear's flagship GyroGlove, a device that will stabilize the hands of people with tremors, according to the statement.
The GyroGlove, which uses the technology applied to gyroscopes, is the world's first wearable device that promises to help steady hand tremors, according to the statement.
In particular, the wearable glove could help people with neurological disorders, such as Parkinson's disease and essential tremor, by reducing their hand tremors and thus allowing them to lead a normal life, Hon Hai said.
Hon Hai said it plans to bring the product to the Asian market and will have exclusive rights to manufacture and sell it in the region.
The investment plan also includes an initiative by Hon Hai and GyroGear to set up a research and development center in Taiwan that will focus on software and hardware, including digital health products and apps, using AI and robotics, the Taiwanese company said.
Source: Focus Taiwan News Channel