Techstars is a global platform that provides investment and innovation. Through the Techstars Worldwide Entrepreneur Network, founders and their teams connect with other entrepreneurs, experts, mentors, alumni, investors, community leaders, and corporate partners who will help their companies grow. Techstars operates four divisions: Techstars Mentorship-Driven Accelerator Program supercharges success and Techstars Startup Programs inspire, educate, and connect entrepreneurs. Techstars Venture Capital Fund invests in innovative and disruptive companies. Techstars Corporate Innovation Partnerships help brands create products and services. Techstars' accelerator portfolio includes more than 1,000 companies with a market cap of $8.1 billion.

Techstars

Phoenix Capital Ventures (PCV) is an early stage venture capital firm partnering with companies in the sports, gaming, human performance and interactive media industries.

Phoenix Capital Ventures (PCV)

ADvantage Sports Tech Fund invests in early-stage technology companies aimed at shaping the future of sports. ADvantage is backed by leAD Sports, an initiative spearheaded by the grandchildren of Adi Dassler to further sports innovation, and global hybrid venture capital platform, OurCrowd. ADvantage is leveraging a strong global network to source leading opportunities in the spaces of fan engagement and experience, connected athletes and communities, and derivative sports (eSports, fantasy, and new sports).

ADvantage

Venture capital and growth equity firm focused on emerging technologies and brands

Calm Ventures

Flexia

Flexia is a connected fitness company that brings the Pilates studio experience into living room with their professional-grade Pilates machine called Reformer and online studio of classes for all levels.

<div>Founded by an industry veteran, Flexia is a connected fitness company that manufactures pilates reformers and offers an online library of classes for users. Launched<a href="https://sp-edge.com/updates/8760?industryIds=2">in February 2022,</a>Flexia’s digitally connected Pilates reformer features a fixed screen that offers a virtual studio for users to view certified instructor-led live classes and on-demand pre-recorded classes. Its patent-pending AI-enabled sensor technology helps track user progress with real-time feedback and provides personalized recommendations based on its proprietary Movement Quality Score (MQS). Reportedly, the Pilates reformer suits all body types, given its long and wide carriage system and the adjustable four-position shoulder and footrest system. It can also stand on one end for easier upright storage. The company also claims that using the equipment is less noisy due to the addition of industrial-grade pulley, rope, loops, and wheel systems.</div>

New products and new technologies are bringing high-end gym workouts to the home.

Connected Fitness

Flexia Launches InstaPlay® Registration and Integrated Onboarding Module of Its Cashless Gaming Solution

<div>
 
 Founded by an industry veteran, Flexia is a connected fitness company that manufactures pilates reformers and offers an online library of classes for users. Launched 
 <a href="https://sp-edge.com/updates/8760?industryIds=2">
 in February 2022,
 </a>
 Flexia’s digitally connected Pilates reformer features a fixed screen that offers a virtual studio for users to view certified instructor-led live classes and on-demand pre-recorded classes. Its patent-pending AI-enabled sensor technology helps track user progress with real-time feedback and provides personalized recommendations based on its proprietary Movement Quality Score (MQS). Reportedly, the Pilates reformer suits all body types, given its long and wide carriage system and the adjustable four-position shoulder and footrest system. It can also stand on one end for easier upright storage. The company also claims that using the equipment is less noisy due to the addition of industrial-grade pulley, rope, loops, and wheel systems.
 
 
 As of February 2022, the product was available for USD 3,495 in the US, while the company had plans to tap international markets. 
 
 
 Flexia’s virtual studio is available for a monthly subscription of USD 39 and consists of a variety of instructor-led Pilates classes as well as mat Pilates, meditation, and breathwork workouts. It also offers community engagement activities for users and maintains records of workout history and fitness progress.
 
 
 In April 2022, Flexia raised USD 4 million in seed 
 <a href="https://sp-edge.com/updates/9573?industryIds=2">
 funding
 </a>
 led by ADvantage. The company plans to utilize these funds to start shipping its first units to customers, improve its content library, and enhance its product experience. 
 
</div>

<div>
 
 Hydrow is a connected rower designed to simulate the experience of rowing on water while indoors and at home. The device is equipped with a screen that plays outdoor rowing workouts for users to perform. The rower uses a patented drag mechanism that is electromagnetic and computer-operated. A unique feature of Hydrow compared to the conventional indoor rowers is that its strokes are smooth and silent, which caters to urban living. Hydrow offers rowers under two models; its original rower that starts at USD 2,495 and 
 <a href="https://sp-edge.com/updates/11656">
 “Hydrow Wave,”
 </a>
 a low-cost compact model that retails at prices starting from USD 1,495. The prices go upward depending on added equipment such as workout mats, heart rate monitors, foam rollers, resistance bands, and headphones.
 
 
 In addition to the rower, users can access live classes and a library of on-demand videos (both rowing and other exercises such as yoga) for a USD 38 monthly subscription. Hydrow also features a leaderboard to promote competitions within the community. The company has retail locations in the US and the UK. 
 
 
 Key customers and partnerships
 
 
 Hydrow reported having more than 200,000 users as of March 2022. It also has partnerships with several organizations such as schools, clubs, resorts, residences, and gyms to supply its equipment.
 
 
 Funding and financials
 
 
 Hydrow achieved 3x year-over-year (YoY) revenue growth in 2021.
 
 
 <a href="https://sp-edge.com/updates/9187?industryIds=2">
 In March 2022,
 </a>
 Hydrow raised USD 55 million in Series D funding led by Constitution Capital. It planned to utilise the funding for further product development, to expand reach globally, improve brand awareness, and scale production to meet growing demand. Previously in 
 <a href="https://sp-edge.com/updates/5691">
 September 2021,
 </a>
 the company raised an undisclosed amount, from celebrity investors. 
 <a href="https://sp-edge.com/updates/4671">
 In August 2021,
 </a>
 it was also reported that Hydrow was in talks to go public via a merger with the special-purpose acquisition company (SPAC). The deal could have valued the combined entity at more than USD 1 billion, though the terms had not been finalised. Reportedly, the SPAC is also in talks with investors to raise private investment in public equity (PIPE). 
 
</div>

Hydrow

Studio offers a smart mirror that allows users to connect it with existing home workout equipment without having to purchase new equipment altogether. The system comprises a 43-inch vertical screen enabling users to follow along with training sessions available live and on demand. The screen also displays stats and other connected device data such as treadmill speed, a bike’s cadence, heart rate, and other metrics. Studio connects with other devices via Bluetooth and sensors.The Studio hardware is priced at USD 999 and the system requires an annual subscription fee of USD 199.99, with which users can access classes for a variety of workouts, including treadmill, cycling, strength, rowing, boxing, yoga, etc.In October 2021, the company partnered with Sole Fitness, a home-fitness equipment manufacturer, to offer connected workouts on Sole’s equipment including ellipticals, treadmills, indoor bikes, and rowers.

Studio

<div>
 
 CityRow uses water rowers with attached screens to play live and on-demand classes as well as game-based workout programs. Its mobile app, “City Row Go,” was introduced in 2018 as a platform to share on-demand classes, extending CityRow gyms, workouts, and programming to the masses. CityRow offers connected rowing equipment under two models, “CityRow Go Max” and “CityRow Go Classic,” available for USD 2,195 and USD 1,495, respectively. CityRow Go Max is equipped with a built-in, 19.5-inch sweat-resistant touchscreen with speakers and Bluetooth compatibility, while the CityRow Go Classic model features a Bluetooth-enabled LED-backlit monitor. Users can subscribe to its app for USD 29 monthly or USD 348 annually to access the content library. CityRow ships its products in the US, UK, and Australia (as of January 2022).
 
 
 In addition, the company also owns and operates rowing-focused boutique fitness studios across the US. Since its inception in 2014, CityRow has expanded to operate 11 such studios as of July 2021.
 
 
 CityRow repored a 375% year-over-year (YoY) growth in revenue in 2020. The company raised USD 12 million in a Series A funding round led by JW Asset Management, in July 2021. The company intends to primarily use the funds to introduce live streaming classes to its workout content in late 2021. In addition, CityRow also hopes to double the workforce to roughly 28 employees and launch 12 more franchise studios (out of 64 franchises sold) by 2022.
 
</div>

CityRow

Carbon Trainer offers a 4K LCD touch screen display with built-in sensors and accessories. Carbon Trainer is powered by AI and motion capture, which enables the system to track form and techniques as well as count reps. Carbon Trainer facilitates resistance training, conditioning- HIIT, strength training, bodyweight training, mobility, stretching, and yoga classes on demand. Users have the option of using weights from Carbon that are equipped with built-in sensors or attaching sensors provided by Carbon on regular weights for them to be compatible with the system. Carbon Trainer with a wall mount is available for USD 2,295, whereas the version with the aluminium stand is sold for USD 2,549. Both include a six-pack of smart sensors and two resistance bands. For USD 39 per month, users can gain access to live and on-demand classes.

Carbon Trainer

<div>
 
 Volava offers a range of connected at-home fitness devices that include a bike, a treadmill, and a heavy bag, available across Europe. Unique to Volava, all the devices are equipped with a leaderboard on the screen that allows users to compete with the community. All its devices offer access to on-demand and live classes. 
 
 
 In February 2021, Volava raised EUR 2 million (USD 2.4 million) in seed funding from Inveready, JME Ventures, and Wayra. The company intends to utilize the funds for continued business growth and expand its operations in national and international markets.
 
</div>

VOLAVA

Companies that offer other types of connected/interactive equipment not classified above such as interactive punching bags, aerobic trainers, climbing machines etc. These devices come with an attached display or a mobile app offering live and on-demand classes and workouts.

Companies that offer connected/interactive mirror devices with video playback and/or touchscreen features. Some devices include additional equipment and allow users to connect the smart mirror with existing equipment (ex: bikes and treadmills) to display live and on-demand workouts and other performance measures.

Companies that offer connected/interactive stationary rowing equipment, along with an attached display or mobile app offering live and on-demand classes and workouts.

Companies that offer connected/interactive treadmills, along with an attached display or mobile app offering live and on-demand classes and workouts.

Companies that offer connected/interactive stationary exercise bikes, along with an attached display or mobile app offering live and on-demand classes and workouts.

Offers digital means of monitoring vitals and personalized programs in connection to fitness

Uses AI/ML to track user workouts and provide effective programs to improve user experience

Flexia

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