Will Ventures is an early-stage venture capital firm that leverages the power of sport to change the world. The reach, demands and allure of the sports market make it an ideal proving ground for innovations that will scale beyond the category. That’s why Will Ventures is the first venture firm to use sports as a lens to identify novel technologies in large, adjacent markets.

Will Ventures

Nimble Ventures is a venture capital company that focuses on the commercialization of innovative ventures in multiple sectors. The firm partners with the Indiegogo crowdfunding portal, allowing it to raise seed funds for projects. This stage also provides market validation which is critical for the next big round of funding from its cadre of Angels, VC’s, and other investors.

Nimble Ventures

Raptor Group Holdings is an alternative investment firm that provides investment management and advisory services. Raptor Group sources and invest in companies across various stages and asset classes, ranging from early-stage venture to both private and public equity. Raptor focuses on various industries including, but not limited to Sports, Consumer, Technology, Media, Entertainment, and Financial Services.  It was founded in 2009 and headquartered in Boston, Massachusetts.

Raptor Group

B. Riley Financial provides collaborative financial services and solutions that provide corporate finance, research, and sales and trading to corporate, institutional, and high-net-worth individual clients. The company operates through several subsidiaries that provide a variety of complementary end-to-end capabilities spanning investment banking and institutional brokerage, private wealth and investment management, financial consulting, corporate restructuring, operations management, and other services.

B. Riley Financial

Liteboxer

Liteboxer is a consumer electronics company providing a smart fitness platform. The company combines rhythm technology with workouts from trainers and brings fitness to home. It is an exercise machine as well as a music game. Jeffrey Morin founded the company in Hampton, New Hampshire in 2017.

<div>Liteboxerdelivers a smart punching bag with an interactive stand along with a nine-inch screen for personal trainers to provide on-demand instructions and a virtual reality (VR) boxing application to provide trainers with a real-life boxing workout experience at home. Boxers can connect tablets/phones for workouts and can also mirror content from the Liteboxer to other devices including connected TVs via Google Chromecast. The Liteboxer collects performance data using embedded force sensors that allow the software to tailor workouts to match the traits of each boxer. The built-in screen and floor mat platform differentiate Liteboxer from other interactive punching bag manufacturers. The company also has a partnership with Universal Music to provide a library of songs while working out. </div>

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

Connected Fitness

Liteboxer goes portable

<div>
 
 Liteboxer 
 delivers a smart punching bag with an interactive stand along with a nine-inch screen for personal trainers to provide on-demand instructions and a virtual reality (VR) boxing application to provide trainers with a real-life boxing workout experience at home. Boxers can connect tablets/phones for workouts and can also mirror content from the Liteboxer to other devices including connected TVs via Google Chromecast. The Liteboxer collects performance data using embedded force sensors that allow the software to tailor workouts to match the traits of each boxer. The built-in screen and floor mat platform differentiate Liteboxer from other interactive punching bag manufacturers. The company also has a partnership with Universal Music to provide a library of songs while working out. 
 
 
 Liteboxer is available in two models: Liteboxer Floor Stand (introduced in July 2020) and Liteboxer Wall Mount (introduced in November 2020). The Floor Stand model is available for USD 1,695 to USD 1,795, depending on the added accessories, such as floor mat platform, gloves, and wraps. The Wall Mount model retails at prices ranging from USD 1,495 to USD 1,595, and does not require floor space. 
 
 
 Membership to Liteboxer’s workout software platform is available for an additional USD 29 monthly subscription fee. The company introduced a virtual reality (VR)-based application with instructor-led workout sessions 
 <a href="https://sp-edge.com/updates/7647">
 in January 2022,
 </a>
 which is offered for a subscription of USD 18.99 for first-time users and free of charge for existing equipment owners with a main membership subscription.
 
 
 <a href="https://sp-edge.com/updates/238">
 In June 2021,
 </a>
 the company raised USD 20 million in a Series A funding round led by Nimble Ventures to fuel growth, build on its vision of immersing fitness with game dynamics, and improving the sales reach of its product.
 
 
 
</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

Liteboxer

About EDGE

Contact Us

Resources

Area of Focus

Technology Research Made Effortless