Peter Li, CEO and co-founder of Atlas Wearables.

Atlas Wearables, a member of the first Techstars Austin cohort, officially debuted its smart fitness tracker in 2013.

A year later, Atlas launched an IndieGoGo campaign and raised $638,029, more than 500 percent above its goal, to create the Atlas Wristband, which identified exercises, reps and calculated calories burned and evaluated form.

The startup has also since raised $3.42 million in venture capital financing. Pre-school friends Peter Li and Michael Kasparian founded the company. In 2015, they made Forbes Magazine’s “30 Under 30” list.

In November of 2015, Atlas fulfilled its IndieGoGo Atlas wristband orders and it has since created the Atlas Wristband 2: Digital Trainer and Heart Rate Band that sells for about $95 on Amazon and other retailers like Wal-Mart.

Now the company has a new product called Shape, a 24/7 Digital Fitness Coach inside a slim heart rate band. The device tracks daily activity and sleep and also tracks and guides users through personalized workouts. The band works with an app, available for both iOS and Android phones.

The device relies on metrics from Atlas Motion Tracking which is the company’s machine learning system that was built based on experience from the original Atlas Wristband, Wristband2, Atlas for Wear and Atlas Engine fitness products.

“Shape considers metrics from Atlas Motion Tracking, including form and personal bests, to find the ideal workout to help users reach their goals,” according to a news release. “Shape leverages Motion Tracking to automatically track workouts including recognizing specific exercises, counting reps, generating metrics, and logging rest intervals. For example, if a user does jumping jacks when they should be doing push-ups Shape knows, or if they’re not reaching up after they burpees, Shape knows.”

In February, Atlas launched a Kickstarter campaign to raise awareness about its latest product, Shape. It already has more than 900 backers and has raised $72,000, exceeding its goal of $50,000 with 15 days to go. Shape sells at an early bird price of $59 through the Kickstarter campaign.

The Shape product reaches a broader customer base, Li said. Since launching the Atlas wristband, the company has had thousands of users who have used Atlas nonstop and it has become a core part of their lifestyle, Li said.

Atlas has five full time developers focused on hardware and software in Austin. The company runs a lean operation, Li said.