Fitness tech is hitting the ground running, and ambitious startups are looking to leverage all the awesome emerging technologies to propel themselves forward. Startups are seeking to leverage AI, genomics, virtual reality, and biometrics to make fitness tech more effective and more personal.
Fitness tech startups are emerging in every type of product it seems – wearables, subscription based coaching services, gamification, eco-friendly running shoes (like Vivobarefoot), high quality performance earbuds, scales that do heat mapping (go google Shapescale). Even smartshirts like Hexoskin, a Canada-based startup working to provide a smartshirt that tracks fitness over time (and shocker – you can wash it!).
Beyond inspiring the health-minded millennials or the metric-hungry researcher, investors are eyeballing fitness tech startups and see great potential. According to CBInsights, funding hit several all-time highs for fitness last year, with over 2.4 billion dollars reported in equity funding since 2013 – that number has likely only increased as more and more companies are competing in the fitness-focused consumer realm.
Here’s some numbers, geeks: Genomics start-up FitnessGenes (which provides DNA-driven diet and exercise advice) disclosed $5 million in funding, and AThGene follows up with $4.7 million in disclosed funding. Skulpt – a handheld body scanner, captured over $6.59 million in funding, a standout amongst 3D body imaging. Volt Athletics uses predictive analytics and AI enabled smart coaching, and boasted $2.44 million in funding.
Fitness tech startups are hitting big domestically, but abroad as well. India and China both have strong national policies promoting physical health and fitness-focused careers, mix that with stronger middle class buying power and more access to mobile technologies and that is setting a perfect stage for companies like India’s CureFit, which has netted $46 million in funding.
Fitness technology is only going to continue to get more powerful, and its applications will continue to be more useful not only for consumers, but also for medical and research professionals. Smartwatches, headphones, shirts, and yoga mats – our bodies are becoming an attractive stage for the Internet of Things that has taken over our homes, cars, and businesses.
For aspiring entrepreneurs, there are new opportunities to leverage emerging technologies to help make us more fit and prevent injuries. The future seems exciting too – what happens when smart homes meet smart fitness and our houses start using our biodata to learn our routines? The future is exciting!