Lakeland Industries increases investment in Bodytrak
By Catrin Jones23 May 2022
Lakeland Industries, Inc., a manufacturer of protective clothing for industry, healthcare and first responders, has extended its strategic investment in Inova Design Solutions Ltd. to £3.5 million, increasing its ownership stake to approximately 18%.
Bodytrak captures real-time physiological data from unique in-ear sensors and analyses this data using AI and uses cloud services to provide critical insights that protect workers from incidents caused by heat stress and fatigue.
The company says that the additional investment will enable Bodytrak to increase manufacturing momentum and operations.
Lakeland’s investment maintains its position as the largest strategic investor in Bodytrak. Existing investors include the specialist internet of things (“IoT”) fund of pan-European venture investor Breed Reply.
Leon Marsh, founder and CEO of Bodytrak, said, “The extension of the investment from Lakeland comes at an opportune time, as we accelerate our commitment to provide data-driven insights that enable our customers to make the right decisions to build a safer, more productive workforce. We share a vision with Lakeland to protect workers and promote safety and this latest investment is a testament to our shared values and ambition.”