Tonal, an AI home fitness startup, recently raised $110 million. This amount brings the company’s total funding up to $200 million. The investors included L Catterton, Delta-v Capital, Amazon’s Alexa Fund, and Mousse Partners, along with athletes Stephen Curry, Paul George, Michelle Wie, and Bobby Wagner. The company will probably use these funds to accelerate its marketing efforts, scale its supply chain and logistics, and roll out software upgrades and new workout content.
COVID-19 and lockdown have closed all sorts of public workout facilities worldwide, and that’s why more and more people are trying to bring their gym in their homes. There is a huge demand for technologies that can help approximate gym experience at home, and so many investors are investing in these types of technologies.
Tonal’s home gym setup costs $2995. It attaches to a wall with two studs. It lets one lift up to 200 pounds in one-pound increments. It has adjustable arms and 17 different sensors that support over 170 leg, arm, shoulder, back, core, and chest workouts. Tonal says its magnets and algorithms make thousands of calculations a second, delivering inertia-free resistance in a compact form. It has an LED touchscreen with many guided workouts for a monthly subscription of $49 per month.
Tonal also announced its collaboration with the Mayo Clinic for physical therapy trials. The results are expected to come next year. It’s also working with several hotels/resorts, including Andaz Scottsdale Resort & Bungalows, the Waldorf Astoria Boca Raton Resort and Club, and the JW Marriott Anaheim. Tonal also has many celebrity endorsements. The company claims that many professional athletes have used their equipment. Some of them including, Serena Williams, Klay Thompson, Tony Gonzalez, Stephen Curry, Paul George, Bobby Wagner, Michelle Wie, Rudy Gay, and Kyle Rudolph, have also have contributed to the previous funding rounds.