Cash Flow: Calm Explores New Funding, F45 Halts IPO, Hyperice Raises $48M

The game-changing investment, acquisition and funding news impacting the industry and driving the business of wellness this week.

Meditation app Calm explores new funding

Meditation and sleep app Calm is exploring the raise of new funding that could see its valuation more than double. According to Bloomberg, sources with knowledge of the matter say the startup is exploring raising approximately $150m at a $2.2bn valuation. The share sale could include a component allowing some early investors to sell.

Connected fitness startup JaxJox secures £7.7m to expand product ecosystem

Connected fitness startup JAXJOX has secured £7.7m in a Series A round of funding with investors Dowgate Capital Ltd. and entrepreneur Nigel Wray, bringing its total funding raised to date to £13m. 

The capital has been earmarked for the expansion and development of its forthcoming JAXJOX InteractiveStudio – a digital at-home fitness platform with connected free-weight equipment that creates personalised data points based on the user’s performance.

Boutique fitness franchise F45 puts IPO plans on ice

Boutique fitness franchise F45 has terminated its previously announced business combination agreement with Crescent Acquisition Corp, putting a halt to its forthcoming IPO plans.

“Despite our best efforts to finalize this transaction, we ultimately concluded that approaching the public markets at this time was not the right option for F45,” said F45 CEO Adam Gilchrist. 

“That said, we are very pleased with our recent business performance, and have seen strong member re-engagement to almost pre-COVID levels. Our business remains resilient and strong and we look forward to continuing to serve and support our members and franchisees.”

Digital health startup Numan raises £10m 

Digital health startup Numan has raised £10m in a Series A funding round led by Novator, along with Anthemis Exponential, Vostok New Ventures, and Colle Capital.

​The online health clinic for men, says it will use the funds to continue building the future of health in collaboration with its customers by investing in technology, expanding operations and growing its team

Hyperice completes $48m Series A funding round

Maker of muscle recovery devices Hyperice has raised $48m in a Series A funding round led by Main Street Advisors and SC Holdings. The round also featured participation from a host of athletes including Anthony Davis, Chris Paul and Russell Westbrook

The company, which is valued at $700m, says it plans to use the funds to expand its artificial intelligence capabilities to enhance its new HyperSmart technology and app. 

Exer Labs raises $2m for motion coaching apps

Exer Labs, a US-based fitness startup that uses its edge-based AI and computer vision platform to power its motion coaching apps, has raised an additional $2m in seed funding, bringing its total raised to $4.5m. 

Investors in the latest round included GGV, AME Cloud Ventures, Morado Ventures, Range VC, Service Provider Capital, Shatter Fund, MyFitnessPal co-founders Mike and Albert Lee, and existing investors Signia Venture Partners and former Zynga COO, David Ko.