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.
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.
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.”