Denmark-based Motosumo has scored a $6M Series A raise led by London’s Magenta Partners, along with existing investors. The brand-new financing will go on doubling its network of spin class trainers throughout Europe, North America, Asia and Australia, expanding its tech team and upping its marketing.
The 2015-founded fit-tech startup has actually established a system for measuring cycling cadence without additional sensors — — users need only affix their existing smartphone or tablet to a fixed exercise bike to get real-time feedback on their efficiency. No expensive Peloton-style linked bike required… … Just strap on your smart device and pedal away on that ancient exercise bike you found collecting dust in the loft.
The start-up’s focus to-date has been more on the b2b side — — offering its software application to physical fitness instructors and health clubs hosting spin classes who are looking to update the experience with real-time tracking. But it’s now set to ramp up it b2c business, seizing the chance to build in your home physical fitness company as the coronavirus pandemic continues to make life challenging for traditional health clubs.
“We’ve just recently made the move to our B2C offering (Motosumo),” CEO Kresten Juel Jensen informs TechCrunch. “On the B2B side (Momentum), we have over 2,500 users and, over the in 2015, we passed 100,000 downloads. As we introduce the B2C version with Motosumo, we are making an in advance financial investment in bring in users to become active members.
“The B2C marketing is simply beginning now and the efficiency with our early members is very positive over the previous few months with an average session ranking of 4.9 out of 5. We expect our Motosumo member base will grow really quickly from here.”
Motosumo uses its mobile-based metrology tech — — which measures cadence, distance, calorie and speed burn — — in a cycling training app that likewise provides interactive 3D games, group challenges and international leaderboards to up the motivational energy.
“Our motion technology is an unique enabler for Motosumo— we empower any bike owner with the capability to get on the leaderboard, sign up with competitors, and get feedback from our trainers,” says Jensen. “We process signals from accelerometers and gyroscopes inside smart devices or tablets to determine your regular biking efficiency metrics such as cadence (repetitions-per-minute), calories, and distance. We are not relying on any proprietary hardware, bike sensing units, or heart rate monitors.
“All of these sensors can be linked for additional data, if preferred by the user however it is not required. Even users with 20 year-old spin bikes without any sensing units whatsoever can take part, climb up the leaderboard, and race with our community. Motosumo algorithms are proprietary and trained by a machine learning loop. This has actually taken years to reach the precision, which is similar to integrated bike sensors, and this will stay a massive barrier to entry for rivals.”
Motosumo combines proprietary tracking tech with a platform that streams a schedule of live spinning classes hosted by a worldwide network of physical fitness instructors. Pricing starts at (a similarly Peloton-undercutting) $13 monthly for endless access to its content.
Aside from (relative) cost for its fit tech, it points to interactivity as a differentiator vs other offerings, touting absolutely no hold-up in the livestream of classes which it says allows its instructors to provide truly real-time feedback. Presently it has 5 coaches active on its platform. Another 5 will be onboarded over the next six weeks, per Jensen
“The Motosumo live physical fitness experience makes a huge distinction,” he argues. “With the live experience, our coaches individualize the exercise, the sense of community is stronger, and the experience is more interactive.
“Motosumo provides more than 40 live exercises each week which we will grow in addition to our new coaches and members. On lots of other platforms, the live experience means 15-60 second buffered streams. We have actually worked relentlessly to decrease our hold-up to 0.5 seconds. We made that financial investment to provide the genuine studio experience, where trainers respond to numbers, emojis, or whatever takes place right in the minute. It’s not simply greetings for anniversary trip events. It’s the true studio live experience we are on a mission to provide in all elements.”
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.