Perth fitness startup Vitruvian raises $20 million in Series A

At-home subscription health club platform Vitruvian has raised US$15 million (A$20m) in a Series A.

The increase was led by Larsen Ventures and Steve Baxter’s syndicate group, Ten13.

Vitruvian – to not be confused with the Sydney-based private coaching service Vitruvian Health – will use the capital injection to extend its 40-strong group and ramp up manufacturing of the {hardware} aspect of the enterprise.

CEO and founder Jon Gregory, a former quant dealer who started engaged on his concept in 2013, stated there had been overwhelming demand for the Trainer+ product because it first hit the market in 2020.

“Since Vitruvian’s inception we’ve taken the time to create smart and fully integrated hardware and software that adapts to our users every time they train, whether they are having a rest day or a powerful day,” he stated.

“We’ve created a product that’s smarter than the rest in the marketplace, and it’s solely going to proceed to evolve and enhance due to the AI which is at its core.

“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 is powerful, portable and looks good in their home.”

The Vitruvian platform has 200kg in software-driven weight coaching in a slim, free-standing unit. It prices round $4000 makes use of synthetic intelligence to adapts exercises to particular person customers to create optimum resistance.

The {hardware} is related to a month-to-month subscription membership that gives entry to courses with health coaches, in addition to permitting customers to create and share exercises, and get efficiency insights.

The second-generation Trainer+ was launched in November 2021 and offered out inside three months. The next quantity manufacturing line ramp up from subsequent month.

Larsen Ventures funding director Andrew Larsen, Investment Director stated he sees “immense market opportunity globally” for the weights coaching product, particularly within the Asia Pacific area and North America.

“I’m excited about the Vitruvian product and platform,” he stated.

“It brings intelligence into the health market not but seen earlier than at a time when a rising variety of shoppers are demanding smarter, expertise led options to assist them practice extra effectively and successfully wherever they might be.

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