JaxJox, a UK fitness technology startups that makes internet-connected home gym equipment, has raised £7.7m in a Series A funding round.
The cash will be used to fund the launch of JaxJox InteractiveStudio, a connected home fitness studio that uses AI performance tracking to provide analytics while using free weights.
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Much like a Peloton running bike, JaxJox’s InteractiveStudio comes with a touchscreen TV to provide visual feedback and training insights.
Saracens rugby club owner and entrepreneur Nigel Wray and investment group Dowgate Capital led the funding round. It brings JaxJox’s total funding raised to date to £13m.
JaxJox funding: Tracking strength like tracking heart rate
At CES 2019 the company launched the KettlebellConnect, a smart kettlebell. It also sells vibrating foam rollers and an internet-connected dumbbell.
Stephen Owusu, JaxJox inventor and co-founder, said: “When we created JaxJox, we set out to reimagine free-weight equipment like dumbbells and kettlebells and create technology that was built into the products to track a user’s performance during a workout, giving them the freedom to workout anywhere.
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By GlobalData“We believe that, for users, tracking power generated while lifting will become as important as tracking your heart rate while running. The funding will ensure that we’re able to meet the demand for those working out from home in a way that helps them achieve wellness goals with leading-edge technology that doesn’t take up too much physical space in the home and tracks performance to help make targets attainable.”
The company says its machine learning algorithm calculates the user’s fitness score, dubbed a ‘Fitness IQ’.
Nigel Wray, entrepreneur and JAXJOX investor, said: “After investing in the angel round, we were delighted to increase our stake in JAXJOX because we believe they are going to transform the home fitness market. The KettlebellConnect was such a success we can’t wait to see how they shake up the space with the InteractiveStudio.”
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