OxeFit, makers of an AI-enabled strength training system, secured $15M in a Series A1 round, bringing total funding to $35M.
With commercial and at-home versions of its smart gym, the startup is targeting the hybrid athlete.
OxeFit creates two products.
The XP1 is a high-tech lifting rack with computer-controlled weight loads, real-time data capture, and AI form tracking. It’s marketed as an elite training solution for gyms, rehab centers, and sports training facilities.
Meanwhile, its XS1, released last year, is designed for the home. The slightly scaled-down product uses much of the same technology, but its hardware also has cardio capability, offering workouts for rowing, Nordic skiing, and Pilates.
Its latest round featured investment from the NFL’s Jalen Ramsey and golfer Dustin Johnson. Next up, CEO Rab Shanableh said he expects another $20M raise in the coming months.
Do You Even Lift?
Nearly 60% of US adults don’t participate in any form of muscle-strengthening exercises at all.
But the need is there. Strength training’s benefits extend far beyond muscle mass, from strengthening bones to helping regulate metabolism. And, according to a study, just 30–60 minutes of strength training per week can reduce all-cause mortality by 10–17%.
Calling all athletes. Heeding the call, connected strength startups have honed in on insight they think will get people lifting: consumers wanting to train like their favorite athletes.
Counting golfer Bryson DeChambeau and quarterback Patrick Mahomes amongst its clientele, Proteus Motion founder Sam Miller said strength tech has historically been lacking for sports pros and exercisers alike:
“In recent years, the explosion of fitness technology has been largely about digitizing existing equipment. But these solutions fail to properly address two key pillars of human performance: strength and power.”
No longer. As cardio cools off, just in the past month, investors have run on the strength category.
- AI training system Altis added $3M in seed funding and signed commercial agreements with LA Fitness and Life Time.
- Kabata, creators of connected dumbbells, secured $2M ahead of its official launch.
- Australian connected strength startup Vitruvian raised $15M and will enter the US.
- Speede Fitness landed $2.5M and will debut its athlete-centric system this summer.
Takeaway: OxeFit is approaching strength training from the highest level, with a hardware/software package once only found in a laboratory. The level of sophistication is mind-blowing. But, for all connected strength companies, the total addressable market is more likely the 40% who already lift — not the ones who need it the most.