Vitruvian Investment

Vitruvian Investments is the Australian connected fitness company behind “V-Form Trainer,” a compact slimline carbon fiber platform with a dynamic tension system that allows users to lift weights ranging between 10 - 400 lbs. The device can be paired with its mobile app to track performance and to join workout sessions including custom weight workouts in solo or group environments, and motivational workout classes. As of August 2021, the company operated an assembly plant in Taiwan capable of producing up to 70 - 100 units per month. The company has around 18 physical store locations including in Australia, Europe, and Singapore (as of April 2022).

The V-Form Trainer retails for USD 2,495, and ships worldwide. The introduction of the app is in line with the company’s plans to move to a subscription-based model beginning in October 2021 with a monthly multi-user membership fee of USD 39. Vitruvian plans to focus on pitching the product to the US and Australian markets in 2022. As of August 2021, the company had 600 - 700 users and reported revenue of USD 1.2 million during H1 2021.

In April 2022, Vitruvian raised AUD 20 million (USD 15 million) in Series A funding co-led by Larsen Ventures and Ten13. The company plans to use the funding to ramp up production, expand its team, and enter the US market. Previously, in June 2021, the company raised USD 6 million from angel investors to ramp up production and bring the second-generation machine—which will be more amenable to mass  manufacturing—into production.