OxeFit Announces Close of Series A Funding of $12.5 Million

DALLAS, Feb. 3, 2021 /PRNewswire/ -- OxeFit announces it has successfully closed an oversubscribed A round led by Lydia Partners with additional investors including some of the most prominent professional athletes and sports medicine experts, such as Dallas Cowboys' Dak Prescott and renowned orthopaedic surgeon James R. Andrews, M.D. OxeFit, a company offering an integrated fitness ecosystem, will bring advanced robotics and artificial intelligence to the world of strength training. Combining proprietary hardware with smart and targeted content, data-driven workout programs will unlock new possibilities for both elite athletes and fitness enthusiasts.

"There is tremendous untapped potential in leveraging technology to make strength training an easy and critical part of our daily health and fitness, whether optimizing an elite athlete's performance, recovering from an injury, or advancing your personal wellness journey," said Co-founder, CEO and Chairman of the Board Mohammed "Rab" Shanableh. "Having the support of investors who understand and can live out our mission is important to us and our commitment to providing a holistic, smarter experience to achieve wellness."

Headquartered in Plano, Texas, the company secured significant investments in the Series A funding. In addition to Prescott and Dr. Andrews of the Andrews Institute for Orthopaedics & Sport Medicine, investors include professional athletes like Dallas Cowboys' Blake Jarwin and Jason Witten, NFL wide receiver Dez Bryant, and Super Bowl Champion Demaryius Thomas.

"I have dedicated my entire career to helping athletes perform before and after injuries, and I believe that OxeFit will revolutionize how we interact with our patients outside of the four walls of our clinic," said Dr. Andrews. "This state-of-the-art performance training system is customized to their needs, furthering the development of current and future generations of world-class athletes."

Targeting elite athletes and consumers from the convenience of their homes, as well as fitness clubs and rehabilitation centers, OxeFit products will leverage insights from its co-founder and chief technology officer, Dr. Peter Neuhaus, one of the country's foremost robotics engineers in powered exoskeletons.

"As a professional athlete currently rehabbing from a significant injury, I see the unbelievable opportunity OxeFit affords athletes and their physicians and trainers to cater activities to their specific needs," said Prescott. "Our bodies are our livelihood, and we must do everything we can to stay on the field and perform at the highest level. I believe OxeFit will change how athletes build strength and rehab from injuries, and I am excited to be a part of it."

OxeFit is set to launch its fitness equipment - the XP1 and XS1 - with a connected content ecosystem, OxeLife, this year.

With more than 25 years of experience in the technology sector, Shanableh has been a part of multiple high-profile ventures, including co-founding Affirmed Networks, which sold to Microsoft, and formerly serving as vice president, Worldwide Sales and Systems Engineering at Sonus Networks.

To learn more about OxeFit, visit www.oxefit.com

About OxeFit

OxeFit is the first-of-its-kind strength training system, revolutionizing the world of connected fitness through advanced robotics and artificial intelligence. OxeFit will provide users with the integrated fitness experience needed to build a well-rounded life whether on a professional or personal level. By harnessing data-driven workout programs, the brand's computer-controlled load allows for variable resistance training while state-of-the-art technology captures data and monitors form to identify weaknesses and potential for injury. OxeFit's engaging content, seeks to bring a new element of connectivity to the fitness community. OxeFit is headquartered in Plano, Texas. For more information, visit oxefit.com

About Lydia Partners

Lydia Partners is a venture capital firm focusing on early stage investments in the consumer technology, healthcare and biomedical industries. We partner with creative entrepreneurs and founders who seek to revolutionize their industries through innovative technology. Our work empowers creative solutions that improve the quality of life and the health of our consumers.

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SOURCE OxeFit