Intel Capital has added investment of $4 million in Mark One, a company that made the Pryme Vessel smart cup. It tracks water intake and hydration. The chip maker earlier invested in Mark One in June 2015.
An Intel Capital representative told TechCrunch, “As to the additional funding, it’s common for Intel Capital to participate in follow-on rounds to help our portfolio investments bridge to the next level of success. And of course, besides funding, we offer introductions to Intel scientists, customers and partners all over the world.”
To evaluate data from sensors, Mark One uses Intel’s Curie hardware module. It is a low-power solution that comes equipped with motion sensors, pattern matching capabilities and battery charging. Using this, Mark One is able to identify certain actions and motions such as lifting the cup to drink fluids.
It’s likely the next level of success that Intel is interested in is functionality, says TechCrunch. The extra funding will assist the company fix connectivity and reliability issues associated with the product, says Alan Johnson, CEO of Mark One.
Mark One is currently developing version 2 of the Pryme cup, which will be more “industrial strength.” Johnson, who has served BevMo in the past as CEO, says his next move will most likely be to be a “disruptor with a powerful vision” and “if able to execute, would leave a dent on the earth’s surface.”
Mark One has not been able to execute on much, and for this reason, the phrase “if able to execute” part is key, says TechCrunch. Mark One closed a $3 million seed round last year, and a few months later, it shared its plan to delay the launch date of the Vessyl.
The original Vessyl from Mark One was invented to track the quantity of liquid the user consumes in a day to examine a person’s overall nutrition. It’s another functionality includes to differentiate between various beverages such as sodas, juices, water or other liquids. The target date was set in 2015, but that did not happen. For this reason, the company launched another cup called Pryme in November 2015, meant to track just water and hydration. Under the leadership of Johnson, Mark One aims to make sales of over $1 billion. Well that’s a pretty big number considering it’s earlier performance!