ElectroKare
Setting the Scene
Electrolyte imbalances during physical activity can hinder performance and lead to dangerous health outcomes, yet most athletes lack real-time insights to manage this effectively.
Problems with today’s tracking:
Inefficiency: Current solutions either require invasive methods or rely on guesswork, leading to poor training outcomes and recovery.
Danger: Poorly monitored electrolyte depletion can cause symptoms ranging from cramps to seizures, putting athletes at risk.
This week’s company offers an electrolyte tracking technology to provide actionable insights.
In a Sentence
ElectroKare is an AI-powered, non-invasive electrolyte tracking software, offering athletes insights into their electrolyte levels during workouts.
Non-invasive: An electrocardiogram (EKG) is taken from a smartwatch, chest strap, or similar device, to receive results instantly.
Tracking: ElectroKare offers actionable insights into electrolyte levels, helping the body determine its specific needs for effective recovery.
Bulleted Version:
- Think of ElectroKare like the Fitbit for your electrolyte levels. Just as Fitbit tracks your steps, ElectroKare tracks your electrolytes using the data from your smartwatch’s EKG sensors.
The Basics
- Headquarters: Vernon Hills, IL
- Employee Count: 2
- Funding amount: $140k
- Business model: B2C subscription model and B2B with customers like sports teams and hospitals
- Early traction: 7 signed teams ($177k in ARR), 2300+ waitlist for the pilot launch, non-invasive electrolyte tracking via smartwatch ECG at ~70% accuracy
Due Diligence
WHAT WE LIKE
Market Opportunity: The projected global end-user spending on wearable devices in 2022 was estimated to be around $81.5 billion.
Performance Optimization: With a growing focus on recovery as a key factor in performance, ElectroKare meets the needs of 4.4 million competitive athletes in the U.S. seeking every advantage in training and recovery.
Beyond Athletics: ElectroKare’s technology has long-term potential beyond sports, with hospitals being a key target for non-invasive electrolyte monitoring in patient care.
POTENTIAL RISKS
Accuracy: With a current 70% accuracy rate, further improvements are necessary to build trust with high-performance athletes and healthcare providers.
Consumer Awareness: Many individuals may not fully understand the importance of electrolyte tracking, which could limit initial demand without proper education.
Privacy Concerns: As with any health-tracking technology, concerns around data privacy could hinder adoption unless robust security measures are clearly communicated.
Founder Profile
Mitchell Leshchiner, CEO: Previously bootstrapped previous startup to 6 figures in ARR for 2-3 years, played professional soccer in France.
Josh Malinkovish, CTO: Previously worked as CTO on various Venture-backed startups, background in Bioengineering and Computer Science.
Comps
NixBiosensors: Backed by Techstars, LionTree, Stadia Ventures, and MassChallenge.
hDrop: Crowdfunded.
Why ElectroKare
By developing a non-invasive, automated method to track electrolyte levels affordably, accurately, and across platforms, ElectroKare enables individuals to take better care of their bodies.