Israeli fitness system developer BlazePod, raised an additional $8.5 million in a second funding round led by private equity fund AP Partners. This round brings total funding to $10 million for the company, which was founded in 2015.
BlazePod has developed the Flash Reflex (FRX) Training system, which combines lighting Pods and an intuitive app with hundreds of activities. The system offers an innovative approach to training and fitness, leveraging engaging visual cues to train physically and cognitively and create faster, stronger, more elite athletes.
The financing round is designed to support the continued triple-digit growth of the company, the development of additional fitness and sports verticals and to allow the company to expand its workforce over the coming months.
The company has seen a successful 18 months since the product’s official global launch, surpassing $10 million in revenue and reaching more than 300,000 athletes and trainers in 120 countries and expanding its reach via Amazon and a network of dozens of distributors.
BlazePod Founder and CEO Yaniv Shneiderman said, "Today more than ever, the fitness and professional sports market is ready for unique technologies that can maximize training and adapt itself to the changing needs of the product users. There is no doubt that the Covid-19 and social distancing have strengthened the need for an available interactive product for use in any setting or space."
He added, "It is not every day that an Israeli company specializing in B2C succeeds in breaking into the global market, to grow rapidly, to build an international brand that has sold in over 100 countries and all this through small investments until now. This is unusual in the Israeli ecosystem."
"The wellbeing sector, which is estimated at being worth more than $4.5 billion, is a focus of interest for the fund, and this is our second investment in that field over the past year," AP Partners Founder, Samuel Vlodinger said. "Wellbeing is receiving a continually growing weight in our lives, and we expect that it will continue growing in the upcoming years. We also believe that Covid-19 has only strengthened this segment.
Notable BlazePod users include Formula 1 racing drivers Pierre Gasly and Alex Albon, top boxer and heavyweight champion Anthony Joshua, soccer players in Europe's top leagues, including Juventus central midfielder Adrien Rabio and Liverpool attacking midfielder Roberto Firmino, and European basketball powerhouse, Maccabi Tel Aviv.
During this round AP Partners was represented by Adv. Atir Yaffe from Pearl Cohen Tzedek, and BlazePod was represented by Adv. Yaniv Aronovitch, Tadmor.
Published by Globes, Israel business news - en.globes.co.il - on December 23, 2020
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