May 03, 2022, 13:05 ET
Startup continues to build momentum as it prepares for summer product launch and begins new funding round
CHICAGO, May 3, 2022 /PRNewswire/ -- Speede Fitness, a Chicago-area strength training startup that is launching a revolutionary fitness machine in summer 2022, has announced that it has raised $2.5 million in funding in its seed round—oversubscribed from $2 million—and signed on new partners from the NFL, NBA, UFC and the business world.
"When I first trained with Speede, I knew right away it was something different," said UFC fighter Michael Chandler, who has joined the company as an equity holder and brand ambassador. "I started in-depth conversations with the engineers and founders because I've never been able to get that good of a pump in such a short period of time. I did five reps of bicep curls and felt like I'd been doing curls for hours."
The company's new machine, the Speede Challenger, is the first connected fitness machine to combine isotonic, isokinetic, and max eccentric training for an intense, efficient workout that leads to faster strength gains. Speede's hyper-efficient workouts have earned praise from athletes across major sports leagues, including Justin Fields, Cole Kmet and Jaylon Johnson from the Chicago Bears, Justin Simmons from the Denver Broncos, Marquez Valdes-Scantling from the Kansas City Chiefs, and Mason Plumlee from the Charlotte Hornets, all of whom have become equity holders in the company.
"Speede is intense, crazy and unbeatable," said Simmons, a two-time Pro Bowler who's entering his seventh season with the Broncos. "With this machine, it doesn't take long before you're putting in your maximum effort. I felt like I completed a 45 minute workout in just a few minutes. The Speede Challenger is going to change the game."
In addition to pro athletes, Speede has also partnered with major players in the business and social media spaces. David Meltzer—an entrepreneur, speaker and podcaster who previously served as CEO of the Leigh Steinberg Sports & Entertainment agency—is now the lead investor for the next round. Fellow entrepreneur and speaker Ed Mylett, the fastest-growing business personality in the history of social media, is also an equity holder in the business.
"From high achievers to elite athletes, people are recognizing that Speede's effective and efficient workouts are going to completely reimagine strength training and health," said Dan Mooney, Speede's co-founder. "We're not just releasing a product, we're starting a movement. And we can't wait to share the Speede Challenger with the world this summer."
Learn more about Speede Fitness at http://speede.fit, Instagram at @speede.fit, or email [email protected].
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