Connected Fitness Start Up Vitruvian Raises USD$2.5 Million Capital Seed Round Investment
PERTH, AUSTRALIA - Media OutReach - 25 November 2020 - Vitruvian, an Australian Connected Fitness Technology company, has announced that they have raised USD $2.5m (AUD$3.42m) in capital from industry-leading strategic investors, despite a global pandemic.
This injection allows Vitruvian to ramp up production of their revolutionary strength training device, the V-Form Trainer, which opens to the global retail market tomorrow after months of demand.
Evolution Wellness Group, based in South-East Asia with a portfolio of influential fitness and wellness brands, recognised the value in Vitruvian after trying one of the prototype devices and were quick to lead the round.
Evolution Wellness CEO Simon Flint immediately saw the potential of the innovative product.
"Upon the formation of Evolution Wellness in 2017, we were clear about our ambition and direction for the company, which was to build value with a diverse and exciting portfolio of brands. Our investment in Vitruvian marks our first major foray into the area of connected fitness and is another stepping stone in fulfilling our growth ambition in this fast-paced industry.
Jon and the team have built a first-class product which is going to perform extremely well as it takes a unique spot in the connected fitness category; we look forward to playing a pivotal role in their growth journey to bring the V-Form Trainer into new markets and help more people pursue their health and fitness goals," said Flint.
The investment was quickly secured after Vitruvian's successful pre-order campaign, which outsold global category leader Peloton's pre-order campaign.
The V-Form Trainer promises to dramatically improve the efficiency and accessibility of resistance training.
Driven by intelligent algorithmic technology, the device does away with static weight entirely, rather, it modifies weight loading between 5kg and 180kg to match the user's ability.
Perth-based founder Jon Gregory, a former high frequency trader whose experience with algorithm-building is the foundation of the device's offering, was thrilled by the success of the launch.
"The response from consumers has been overwhelming, I knew we were onto something after spending the last 10 years iterating the technology, but I am glad the general fitness community has also bought into what we are building," says Gregory.
What they're saying about the V-Form Trainer
"It's almost overwhelming, because I've been working for the last 15 years to perfect an eccentrics protocol delivery and 31 years trying to perfect a training system in general -- and this changes the game so much."
--Jim Clarry, Founder Studio Perseverance & Strength Training Authority
"I'm blown away by the efficiency of Vitruvian technology. The device automatically knows if it needs to reduce or increase the weight load and it adapts to how you are lifting during your rep. Plus it enables you to train all major and minor muscle groups in the comfort of your own home!" --Amanda Bisk, Exercise Physiologist & Elite Athlete
"As a fitness expert I have seen a lot of things come and go in this industry. Most of the things I was glad to see go. When I got my hands on the V-Form I was intrigued to use it. The technology truly takes the science of strength training and puts it into a platform that anyone can understand!-- Joey Thurman, Celebrity Trainer
Powerful Smart Tech
Using innovative custom-developed motor systems, the V-Form Trainer can output enough resistance for max lifts up to 180kg. The adaptive force algorithm manages load, dynamically changing resistance to slash the time it takes to build muscle, while logging performance data to monitor progress. Train in a variety of modes: it's the first device to empower users to train truly eccentrically at significant loads without static weight and without a spotter.
Versatile Flexibility
The connected app and accessories guide full-body, customizable workouts, with over 200 exercises across all muscle groups. Coached classes and technique tutorials are delivered by leading professional trainers.
Sleek Design
Carbon fiber, smooth finish and dynamic lighting make the V-Form Trainer a sophisticated home feature. Customizable LEDs respond to your force load and the light, flat platform easily stores away out of sight.
Named for Leonardo Da Vinci's famous drawing of the ideal human physique, Vitruvian empowers users to find their perfect form with unique technology. It's resistance revolutionized -- the smartest way to train. Learn more at vitruvianform.com.
Follow @vitruvian.form.
About Evolution Wellness Group
Established in 2017, Evolution Wellness is Asia's leading health and wellness group with a vision to build a comprehensive wellness ecosystem. Its diverse portfolio of highly complementary brands spans the spectrum of fitness offerings from high value low price (HVLP), to full service and premium boutique gyms, virtual fitness, connected fitness, wellness and a subscription-based SaaS membership management system. Besides its core business as owner and operator of Asia's largest network of wholly-owned fitness clubs, Evolution Wellness also offers an attractive licensing programme for its HVLP brand GoFit and premium boutique brand FIRE Fitness, joint venture opportunities and management consultancy for its wellness brand, Fivelements.
For more information about Evolution Wellness, portfolio brands, and services, please visit www.evolutionwellness.com.
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