You're right, the technology is available. But power consumption is another thing altogether. I am assuming the device will be battery powered and the usefulness of some of the sensors, like GPS, drops very quickly if you can't afford to power them on more than a few times a day.

Any wireless radio chip (BLE, Bluetooth, Ant, Wifi), if it needs to be on all the time will also have a huge impact on battery life.

I wish good luck to the Asteria team, and am genuinely curious about how they'll pull it off.