Connected fitness company Arena Innovation Corp. announced that it has secured $5.2 million in seed financing to support the launch of its strength training product. Several notable sports, fitness and technology investors participated in the funding round, including major contributions from Courtside Ventures, Powerhouse Capital and Wellness Holding, the investment office of the founders of Technogym.
Angel investors among this group included Equinox Group Co-Founder Lavinia Errico, Anthony and Joe Vennare of Fitt Insider, New York Jets wide receiver Braxton Berrios, and Russ Angold, Co-Founder and former CTO, Ekso Bionics.
The Arena fitness platform is a portable robotic device for dynamic resistance training. Designed and manufactured in the United States, the Arena fitness platform weighs approximately 60 pounds but is capable of generating more than 200 pounds of resistance. Users can control the resistance and take workout classes via the Arena smartphone app.
“The team couldn’t be more excited to have the backing of an incredible group of investors as we fulfill our mission to democratize strength training,” said Arena co-founder and CEO Dr. Krisna Bhargava.
“We are thrilled to invest in Arena’s seed round,” said Deepen Parikh, partner, Courtside Ventures. “Nearly 60 percent of U.S. adults do not participate in any form of strength training, which can greatly impact quality of life and long-term health. Arena is creating accessibility and education for this massive yet underserved market through its innovative, compact and highly effective hardware and software solution. The background of the team is incredibly unique as they wield strong expertise across consumer hardware, robotics, digital fitness, and personal training.”
Photo courtesy Arena Innovation