Love this idea, but as I understand it, their iOS app will be rejected unless they go through the MFi Program licensing process. Apple doesn't allow open access to the Bluetooth stack for anything besides audio hardware. Hope they have someone taking care of that, I don't see any mention of it in their sales pitch. Also, I really hope some of that money goes towards hiring a designer to polish their apps and branding…
That's one of the coolest "features" of Bluetooth LE: Apple has decided that the risks to battery life and overall system integrity are low enough with BLE that they've left it quite wide open from an app-developer perspective. There's even an officially-supported background mode. It remains to be seen exactly how far they are willing to go with unregistered protocols and custom hardware, but this type of "electronic…
Still hope they tune up the design, though. Even beyond aesthetics, the usability leaves a lot to be desired.