JAXJOX, the Leading Fitness Technology Company, Raises $10M in Series A Funding

SEATTLE, Oct. 13, 2020 /PRNewswire/ -- JAXJOX, the global fitness technology company known for its innovative workout equipment and platform, today announced a $10M series A round of funding with investors including Dowgate Capital Ltd. and entrepreneur Nigel Wray, bringing total funding raised to date $17M. The funding assisted in the research and development of the highly anticipated JAXJOX InteractiveStudio, which will ship to customers later this year, as well as global retail expansion. The InteractiveStudio is the first fitness platform to combine connected strength-training equipment with live and on-demand content, enabling users to track their own performance in real time during classes.

"With so much activity in the connected fitness space, we're both delighted and excited to be part of JAXJOX's movement to bring fitness and health together using data science. This is the future of wellness," said James Sergeant of Dowgate Capital.

The InteractiveStudio is the first home gym that includes connected free-weight equipment with AI-enabled performance tracking and interactive live and on-demand coaching for a personalized workout experience. Four connected, IP-protected products with automatic adjustability use AI powered real-time performance tracking, including the groundbreaking KettlebellConnect 2.0 and DumbbellConnect. Compared to other products in the space, the InteractiveStudio provides a substantially richer training experience with personalized, real-time data including repetitions, total volume, power and a proprietary Fitness IQ score.

"When developing the InteractiveStudio it was important for us to think about all the friction points a user experiences with home gym equipment. A few years ago, there were no in-home fitness solutions that fit into every lifestyle. There were in-home solutions for cardio and strength but nothing that combined the two in one compact unit. We spent 2 years creating the ultimate community-centric home fitness solution that combines adjustable free-weight equipment, AI-powered performance tracking, and content for a wide variety of workouts," said Founder and CEO Stephen Owusu.

Unlike other home fitness systems that require users to stand a certain distance from their screen to track form and motion, JAXJOX's connected technology is built into the products, providing the most versatile experience for training. Users can remove any connected product from the studio and workout in a different location, while still accessing the live coaching and performance tracking on their mobile app.

JAXJOX uses a proprietary machine learning algorithm to calculate the user's Fitness IQ score. The score keeps them informed on overall progress toward fitness goals and can also provide personal workout recommendations. JAXJOX uses peak and average power, heart rate, workout consistency, steps, body weight, and your chosen fitness level in the calculation.

"Beyond fitness-tech products, our vision is to close the gap between fitness and health. By monitoring performance metrics and using AI, we can give users a more holistic view of their health and provide recommendations on improving their wellbeing. We know working out is only one aspect of wellness and will continue to enhance our platform to provide an unparalleled experience," Owusu added. 

The JAXJOX InteractiveStudio is a compact gym fitted with a 43" capacitive touchscreen TV that rotates horizontally, vertically and tilts for floor exercises, as well as four smart connected products with automatic adjustability, replacing the need of 6 kettlebells and 15 dumbbells. The InteractiveStudio transforms any room to a complete gym with 145 lbs of adjustable weight, a smart push up device and a digital, vibrating foam roller.

In 2019, JAXJOX debuted the KettlebellConnect, the first smart kettlebell with adjustable weights. Stephen Owusu's background in engineering and electronics combined with a passion for fitness, led him to the invention of the JAXJOX products.

"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. We believe that, for users, tracking power generated while lifting will become as important as tracking your heart rate while running,"  Stephen Owusu said.

The company has seen 10x growth year over year and tripled the number of employees.  JAXJOX products have been available globally at Apple stores and online. They've also announced they have secured an exclusive partnership with Best Buy for retail sales of InteractiveStudio. In August, JAXJOX moved headquarters to a 10,000 sq ft studio in Redmond, Washington in order to expand its workout content offering for live and on-demand classes covering a wide variety of categories including strength, cardio, functional training and recovery. JAXJOX's InteractiveStudio subscription provides members with daily live classes and a library of on-demand classes with 140+ videos added a week.

This Fall, customers will be able to purchase JAXJOX InteractiveStudio at JAXJOX.com and BestBuy.com and includes access to Best Buy's customer service arm, GeekSquad.

"We're excited to be JAXJOX's exclusive retailer partner for the InteractiveStudio. The KettlebellConnect has been a great additional to our connected fitness lineup and we are looking forward to introducing our customers to even more ways to stay fit and connected in the future," said a spokesperson of Best Buy.

JAXJOX InteractiveStudio is available for pre-order at JAXJOX.com and retails for $2,199 with a $39 monthly subscription.

About JAXJOX:
JAXJOX is a global fitness company revolutionizing the health and wellness industry through its technology-enabled, connected at-home exercise equipment. JAXJOX creates compact, smart workout products with AI-powered performance tracking and a variety of live and on-demand classes led by expert trainers, for educational motivation, making it easy for consumers to reach wellness goals from the comfort of their home. JAXJOX's flagship product is the InteractiveStudio, an all-in-one home gym that includes 145 lbs of adjustable free weight, 43" 4k Touchscreen TV that rotates vertically and horizontally, and connected products in one compact design. It provides a complete fitness experience for the home environment. JAXJOX is headquartered in Redmond, Washington.

SOURCE JAXJOX

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