PRODUCT NEWS
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| Arena gets US$5.2m seed financing to enter connected strength training market |
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| 23 Jul 2021 . BY Tom Walker |
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| The robotic fitness platform is capable of generating more than 200 (91kg) pounds of resistance / Arena Innovation |
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Fitness startup Arena Innovation has secured US$5.2m worth of seed funding, as it looks to launch its robotically-assisted resistance training product to the market.
Investors include Wellness Holding, the investment office of the founders of Technogym, Courtside Ventures and Powerhouse Capital.
Angel investors also included Equinox Group co-founder, Lavinia Errico, Anthony and Joe Vennare of Fitt Insider, New York Jets wide receiver Braxton Berrios, and Russ Angold, co-founder and former CTO of Ekso Bionics.
Founded in 2020, Arena offers a portable, robotic fitness platform developed by specialists in hardware automation and exercise.
With the aim of revolutionising strength training, the platform weighs around 60 pounds (27kg) and is capable of generating more than 200 (91kg) pounds of resistance.
Users can control the resistance and follow workout classes via the Arena smartphone app, which features hundreds of exercise movements.
Arena co-founder and CEO, Dr Krisna Bhargava, said: "The team couldn't be more excited to have the backing of an incredible group of investors as we fulfill our mission to democratise strength training.
"As we accelerate the release of our product, we'll leverage world-class engineering and fitness capabilities to reinvent the gym," Bhargava added.
Ian Doody, co-founder and MD at Powerhouse Capital, added: "We believe the future of fitness for consumers is a hybrid solution that engages them both at home and in the gym.
"Arena's combination of accessible hardware with inspirational digital training content is a perfect fit.
"Arena represents a unique combination in today's connected fitness market, with the opportunity to engage users through their personalised fitness and wellness journey in multiple environments."
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