Plano, TX

NFL stars Dak Prescott and Jalen Ramsey help boost funding for Plano-based smart gym OxeFit to $35 million

Jalyn Smoot

https://img.particlenews.com/image.php?url=2ed4La_0fg9P4Tk00
PGA star Dustin Johnson and reigning Super Bowl champion Jalen Ramsey join Dak Precott (above) as investors in OneFitOxeFit

Plano-based smart gym OxeFit added NFL veteran cornerback Jalen Ramsey and pro golfer Dustin Johnson to its list of deep-pocketed investors.

Ramsey and Johnson spearheaded a group that was a part of OxeFit’s Series A1 round that recently closed with $15 million of equity commitments.

OxeFit also raised $12.5 million for its AI-powered smart gym systems in February 2021. The funding round was led by the venture capital firm Lydia Partners, whose managing director, Mohammed “Rab" Shanableh, is also co-founder, chairman, and CEO of OxeFit.

Dak Prescott, who was the highest-paid NFL player a season ago, has been one of the startup smart gym's most notable investors.

One of the biggest OxeFit brand ambassadors, Prescott was amongst a group of initial backers that also included former NFL stars Dez Bryant, Jason Witten, and the late Demaryius Thomas.

Now, following their recent partnership with world-class athletes Dustin Johnson and Jalen Ramsey, the Plano-based smart gym has accumulated nearly $40 million in investments.

OxeFit manufactures and distributes smart gym systems that utilize AI to maximize workout results and enhance resistance-based strength training.

The virtual, data-driven nature of OxeFit allows users to compete remotely with athletes and other users in an online environment called OxeLife.

https://img.particlenews.com/image.php?url=2EMipE_0fg9P4Tk00
Plano-based smart gym enables AI to fuel workout resultsOxeFit

Additionally, according to a Forbes report, the OxeLife CEO expects the startup smart gym to receive roughly $20 million in funding in the coming months as the popularity surrounding the company continues to swell.

Having already received just under $40 million in funding in two years, the sky is the limit for the North Texas-based company. It's unclear how much financial capital will ultimately be invested into OxeFit, but their stock is certainly on the rise.

“The things that people look for in a gym or a performance center, or what a college or a sports team look for, it’s exactly what we have built as the principles of the design of [our technology],” Shanableh said in a conversation with Dallas Innovates. “Working out is no longer just for the athletes, it’s for everybody. Everybody wants to stay healthy. It’s a huge market, and we haven’t even scratched the surface yet.”

Comments / 4

Published by

I write about Dallas and Collin County sports, politics, interesting people, and environmental issues. I strive to shine a light on issues that are still in the dark and help to give a voice to the voiceless

Dallas, TX
1566 followers

More from Jalyn Smoot

Comments / 0