Somatix is a leader in wearable-assisted gesture detection for real-time health intervention and wellbeing enhancement. Founded in New York City in 2015, the company leverages sensors in commercial off-the-shelf smartwatches, smartbands and IoT connected devices.
The company’s platform detects physical and emotional indicators completely passively, without the need for any manual data logging. The platform employs cloud-based machine learning and advanced analytics capabilities to ensure precision recognition and supports real-time alerts of undesired symptoms or behavior patterns.
Somatic is now backed with $7.5 million in venture capital, and is targeting a digital health market set to exceed $379bn in value by 2024.
Somatix’s innovative digital health solutions ultimately enable enterprises, health insurance companies, clinics and elderly caregivers, among others, to increase the treatment adherence and improve the lives of those under their care.
Eran Ofir is the CEO and co-founder of Somatix. He holds a BSc degree in Electrical Engineering from Tel Aviv University and an MBA from the same university. For the last 20 years, Eran has worked in executive roles with multinational companies, where he established and led business units at Orange, AOL Mobile, Amdocs, Convergys and NCR. Over the last ten years, he has lived and worked in Israel, South Africa, China and the US, selling software platforms, hardware, services and consulting to customers in internet, telecom, retail, utilities, financial services and healthcare sectors.
“After nearly two decades working for the benefit of shareholders of public companies, I knew that I needed to make a change. I was determined to shift my focus to a position in which I could find more personal meaning and hopefully do good for people,” Eran told Red Herring in an interview.
“Around the same time, friends introduced me to super-mind Uri Schatzberg, now my co-founder at Somatix and our CTO, who holds an impressive track record of algorithmic development of cutting-edge tech innovations with over 20 patents to his name. A few years ago, Uri shared his latest finding related to wearables-based gesture detection as a general concept, still at the stage of needing a valid use-case.”
In the U.S., smoking-related illness costs the nation more than $300 billion annually, nearly $170 billion in direct medical care for adults and $156 billion in lost productivity. Globally, the smoking cessation and nicotine de-addiction market is expected to reach $21.8B by 2024.
As the nicotine addiction is rapidly increasing, the desire to quit smoking serve as incentives for companies to introduce novel solutions for nicotine de-addiction market.
The company’s SmokeBeat is superior to other smoking cessation solutions, mainly because it automatically detects smoking gestures, enables doctors to passively monitor and follow up on cessation treatments and provides ongoing awareness of treatment vs. predefined goals.
Somatix aim to solve big health problems. Reduce and stop smoking, modify alcohol usage, ensure proper medication management and empower better eating habit and ultimately shift healthcare systems to preventative, behavioral, healthcare methods.