A smart clothing firm says it is on track to becoming the world’s fastest-growing unicorn.
Prevayl CEO Adam Crofts told a launch event in Manchester that the company is on track to become the fastest-growing unicorn business in the world, achieving a $1 billion valuation within its first 365 days of trading.
He also revealed Prevayl’s new partnerships with Vodafone and the Graphene Engineering Innovation Centre.
Through its unique technology platform – which combines weaving graphene into its smart clothes, sensors, biosignal analysis, advanced analytics, blockchain, fast data streaming and 5G – Prevayl aims to provide more data on the human body’s performance than any other platform in the world.
More than 60 people gathered for Prevayl’s ‘Imagine If’ event at Harvey Nichols in Manchester, to learn about its vision and ambition.
Crofts, who is married to Coronation Street’s Tina O’Brien, revealed how his talented team turn data into empowering insights that help people live a better life.
“What we are creating has never been done anywhere else in the world. Instead of talking about smart clothing, we are now coining terms such as second skin, and clothing in which every fibre is alive,” he said.
“I’d like you to imagine if the shirt or dress you have on right now could seriously improve the quality of your day. Imagine if it ensured that you stayed at optimum performance, kept you hydrated, avoided energy slumps, kept your posture correct and kept you calm through any stressful situations.”
During an evening which saw presentations from Tahir Mahmood, Director of Engineering, Sam Bird, In-House Patent Attorney and CEO of GEIC James Baker, Adam also told the audience that Prevayl will soon be releasing its first concepts.
He added: “The biometric data that we are able to receive, through our connected clothing and the real time critical insights we can provide from this data, will truly save lives and give people the ability to live life to the full.
“We have teams mobilised and physically working on our project in a number of different companies. The coming together of technologies such as AI, 5G and nano technology, with graphene and its incredible properties playing a central role, will let you experience brands in a way that has never been done before.”
Founded by entrepreneur investors David Newns and Chris Lord, Prevayl’s technology is expected to have a disruptive effect on the fashion, pharmaceutical, medical and insurance industries. There are applications for the armed services and police as well as sport, health and IT.
Guests at Harvey Nichols also heard from Prevayl’s Creative Director Bella Hepworth.
She urged people to ‘forget what you thought you knew about the aesthetics of wearable tech’ and explained how the thinnest and strongest material in the world will be incorporated into the fabric of Prevayl’s smart clothes.
“Imagine your favourite piece of clothing you currently have in your own wardrobes,” she said. “That is the perfect place to start as a guide to what Prevayl clothing will look like.
“And the number one rule when wearing Prevayl clothing – there will be no signs of any technology. All the components will be incorporated into each garment like never before seen…or ‘not seen’ should I say? You will wear a Prevayl T-shirt like you wear any other classic T-shirt in your wardrobe.”
She added: “Prevayl’s smart clothing will be style lead; clean, contemporary and easily adaptable to the everyday wardrobe. It will be desirable because of the way that it looks, fits and feels as well as the insight it will bring to your health and wellbeing.
“But that’s not to say it will be without identity. Our namesake line covering casualwear and formalwear as well as sportswear will inspire other designers and brands, demonstrating the potential for our enabling technology within their own collections. It is through the enabling of other brands that we will begin to have a global impact making Prevayl a household ‘go to’ and bring revolution in healthcare.”