Google looking to invest in Jawbone?

Jawbone UP3

Google is apparently looking to invest in Jawbone, which is known for its UP fitness bands and Jambox Bluetooth speakers.

According to the Recode report, the Mountain View, CA-based search giant is considering making a “strategic investment” in Jawbone, in a move that could help both companies grow their presence in the wearables space.

From what we’re getting, Google is not interested to acquire Jawbone, and will rather join (or lead) the Up band maker’s latest funding round. Jawbone’s current investors include Rizvi Traverse, Andreessen Horowitz, JP Morgan’s Digital Growth Fund, and Sequoia Capital. The company has a valuation of at least $3 billion, but it’s facing a rather uncertain future once the Apple Watch starts selling in April.

Google has its own wearables agenda in the form of the Android Wear smart watch platform.Meanwhile, Google has its own wearables agenda in the form of the Android Wear smart watch platform, which has yet to reach the tipping point and catch the mass audience.

San Francisco-based Jawbone is also looking to shop around, and is meeting with other investors as part of the forthcoming funding round that should provide it with some $250 million of fresh capital.

This past November, Jawbone introduced the advanced UP3 fitness band, which can track user’s skin temperature, heart rate, sleep stages and an accelerometer. It has up to seven days of battery life and is water-resistant up to 10 meters.