Vitruvian bulks up with A$3.4M seed raise

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// Perth-based connected fitness startup Vitruvian has raised US$2.5M (A$3.4M) from strategic investor Evolution Wellness…

As 2020 rushes to and end, the deals keep coming with Perth-based fitness tech startup Vitruvian announcing the closing of a US$2.5M (A$3.42m) seed capital round from industry-leading strategic investors.

This injection will allow Vitruvian to ramp up production of their strength training device, the V-Form Trainer, which opens to the global retail market today after months of pre-order demand.

After trying one of the prototype devices, South-East Asia-based Evolution Wellness Group led the round.

Evolution has a portfolio of influential fitness and wellness brands, and their CEO Simon Flint says he immediately saw the potential of the 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,” he said.

“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 [Gregory] and the [Vitruvian] 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 Simon.

Simon Flint, Evolution Wellness Group

The investment was secured after Vitruvian’s successful pre-order campaign outsold global category leader Peloton.

The V-Form Trainer looks to dramatically improve the efficiency and accessibility of resistance training.

Driven by intelligent algorithmic technology, the device does away with static weights, rather, it modifies weight loading between 7kg 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,” he said.

Jon Gregory, Vitruvian founder

Powerful Smart Tech

Using 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.

The connected app and accessories guide full-body, customisable workouts, with over 200 exercises across all muscle groups. Coached classes and technique tutorials are delivered by leading professional trainers.

“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,” said celebrity trainer Joey Thurman.

“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!”

Named for Leonardo Da Vinci’s famous drawing of the ideal human physique, Vitruvian “empowers users to find their perfect form with unique technology”, says the company.

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