Upstart home fitness brand Tonal unveiled a sizable funding round this week that included investments from tech giant Amazon’s Alexa Fund and NBA superstar Stephen Curry.
The tech fitness firm, best known for its digital weight training system, raised $110 million in its latest investment round. Tonal has raised a total of $200 million since it was founded in 2015, according to CrunchBase.
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“I’ve had a Tonal for almost two years,” Curry said in a statement. “While in quarantine during COVID, I have relied heavily on it to maintain my strength training and believe it is revolutionizing how people will work out now and in the future.”
Other notable investors in Tonal’s latest funding round included professional golfer Michelle Wie, Seattle Seahawks star Bobby Wagner and Los Angeles Clippers star Paul George. The athletes joining a growing roster of investors from the ranks of professional sports after previous investments from tennis superstar Serena Williams and Pro Football Hall of Fame inductee Tony Gonzalez.
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Described as a “connected fitness” platform, Tonal’s digital weight system is wall-mounted and provides up to 200 pounds of resistance for weight training. The interactive device uses artificial intelligence and live coaching to guide workouts.
“As the first mover in connected strength training, it has been incredible to see the momentum we’ve had in the two years since introducing Tonal to the world,” said Tonal CEO Aly Orady said in a statement. “Month over month, we’ve consistently seen record-breaking sales and member engagement fueling one of the most passionate fitness communities ever.”
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Stay-at-home fitness systems have surged in popularity in recent months after the coronavirus pandemic shut down gyms and made it difficult to work out in public. Shares of Tonal rival Peloton are up more than 200 percent since early March.
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