High-profile figures such as soccer star Harry Kane and hockey Hall of Famer Wayne Gretzky have joined the ranks of investors in OxeFit. The company specializes in the production and sale of premium fitness training systems, attracting notable personalities from the sports world to participate in its latest successful fundraising round.
OxeFit raised $20M in a Series A2, bringing total funding to $45M.
While specific revenue figures were not disclosed, the company’s representative refrained from providing details regarding OxeFit’s current revenue. However, they expressed optimism about the future, projecting a significant 200% year-over-year increase in sales. This anticipation reflects the company’s confidence in its growth trajectory and market performance.
OxeFit was established in early 2020 by Shanableh and Peter Neuhaus, who holds the position of Chief Technology Officer. Shanableh brings extensive experience as an engineer, executive, and startup founder spanning nearly three decades. On the other hand, Neuhaus holds a Ph.D. in mechanical engineering from the University of California-Berkeley and has dedicated around 17 years to robotics research as a research scientist at IHMC, a nonprofit research institute in Florida.
During the course of over a year, Shanableh and Neuhaus diligently developed OxeFit’s inaugural product, XP1, which was launched in April 2021. Building on this success, the company introduced its second product, XS1, in December 2021.
The XP1 is tailored to cater to fitness centers, rehabilitation facilities, sports training centers, apartment buildings, and other commercial customers. Users of this system gain access to a comprehensive range of over 200 exercises encompassing strength and cardio routines. On the other hand, the XS1 is specifically designed for home use, offering a diverse selection of more than 250 strength exercises and six cardio exercises.
In its early stages, OxeFit secured initial funding from Lydia Partners, a venture capital firm where Shanableh holds the position of managing partner. However, as the company progressed, it shifted its focus toward investments from family offices, as well as renowned athletes and celebrities.
Other OxeFit athlete investors include Thaddeus Young, Dak Prescott, and Talor Gooch.
