10 May 2022
Vitruvian raises US$15m to accelerate production and US expansion
BY Frances Marcellin
AI-driven home-strength platform, Vitruvian, has raised US$15m Series A funding to ramp up production. Investors include Larsen Ventures and Steve Baxter’s Ten13. Baxter is known for his TV role as a “shark” in Australia’s Shark Tank.
The company's V-Form Trainer was launched in 2020 following a US$2.5m raise led by Evolution Wellness, with a second-generation, called Trainer+, being released in November 2021.
This sold out in three months and the new capital injection will be used to boost the speed and volume of production and drive Vitruvian’s expansion into the US market.
“This funding allows us to scale and build market share at a time when consumers want the flexibility to train how they want, where they want and with a product that's powerful, portable and looks good in their home,” said Jon Gregory, founder and CEO of Vitruvian.
“We’ve created a product we believe is smarter than anything else on the market, and is only going to continue to evolve and improve, because of the AI which is at its core.”
The Trainer+ provides up to 200kg/440lbs of digital weight and uses AI to respond to the way a user moves in real-time. The weight loading is modified through an algorithm. This syncs with the Vitruvian app, which aims to be a “personal trainer, spotter and progress diary in one”. The app’s workout library is loaded with 200 exercises and professionally designed classes by qualified coaches, so members can design their own sessions or be guided by on-demand workouts, as well as recording their progress.
The company says the Trainer+ can do everything a squat rack can do, yet can be stored more easily – it has wheels at one end, weighs 38 kg/80lb and its dimensions are: 1170mm x 520mm x 115mm.
The price in Europe is €2,649 which includes handles and ankle straps. A monthly membership is also required per machine, although it can accommodate unlimited user profiles.
“I’m excited about the Vitruvian product and platform. It brings intelligence into the fitness market not yet seen before, at a time when a growing number of consumers are demanding smarter, technology-led solutions to help them train more efficiently and effectively wherever they may be,” said Andrew Larsen, investment director at Larsen Ventures. “We see immense market opportunity globally and particularly here in Asia Pacific and throughout North America.”
Close Window