The Covid-19 pandemic shuttered gyms and other fitness studios two years ago, creating a sudden demand for home fitness equipment.
Peloton initially saw a surge in sales as people tried to stay in shape while juggling work, family and housekeeping responsibilities in a small space. Other smart gym options also grew in popularity, including strength training machines Tonal and Tempo, the latter of which uses free weights. Rowing machines have been digitized by the likes of New York-based Ergatta and Boston-based Hydrow.
Last year, Plano-based startup OxeFit entered the market with the XS1, an AI-powered total body at-home system that, in addition to resistance training, offers digital rowing, kayaking, swimming and Pilates.
The company also launched last year the XP1, a pro-grade system used by elite trainers and professional athletes like Dallas Cowboys’ quarterback Dak Prescott, who was so impressed that he invested in the company last year.
On Wednesday, OxeFit announced that pro golfer Dustin Johnson and LA Rams’ cornerback Jalen Ramsey had joined its list of athlete investors and brand ambassadors. OxeFit CEO Rab Shanableh did not disclose the amount of the most recent funding round, but he told Built In that the company has raised seed, Series A and Series A1 rounds that total more than $35 million.
OxeFit has about 100 employees. With the new funding, Shanableh expects to “exponentially” grow the company’s sales, marketing and engineering departments.
The new funds will also be used to increase the production of the direct-to-consumer XS1 product.
Ramsey said in a statement that the “ability to mix strength and cardio in the same workout on the same machine is groundbreaking, and allows for more creativity” in his daily workouts.
Johnson plans to share the results he sees from the XS1 as he incorporates it into his personal fitness routine.
“The OxeFit platform is unlike anything I’ve trained with before,” the golfer said in a statement. “Not only do I have options when it comes to strength and cardio, [but] the XS1 gives me the data and feedback I need to keep improving every day.”
