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Barcelona's Iniesta, OKC's Ibaka Team Up With Telefónica To Back Wearable Tech Start-Up

Barcelona football player Andrés Iniesta and NBA Oklahoma City Thunder player Serge Ibaka "are teaming up with telecoms group Telefónica to back a Spanish wearable technology company whose device gives sports fans the player’s point of view," according to Daniel Thomas of the FINANCIAL TIMES. FirstV1sion "has created a T-shirt with a camera embedded at chest level to provide broadcast-standard video, as well as feedback on the player for the team to monitor." Wearable sports technology "is a part of the wider 'internet of things' market, which is attracting increasing levels of investor interest." Telefónica has invested €60,000 ($63,300) for a 7% stake in FirstV1sion and "supported it through Wayra, its start-up accelerator." The start-up now hopes to raise up to €5M ($5.3M) on BankToTheFuture, a peer-to-peer crowdfunding platform, "to fund its next stage of growth" (FT, 3/11).

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