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Sport Porsche invests in smart fitness mirrors

20:25  01 december  2020
20:25  01 december  2020 Source:   craft.lead-digital.de

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Porsche Ventures, the sports car manufacturer's investment unit, is investing a single-digit million euro amount in the young Berlin startup Vaha, which has developed a training mirror.

Training mit dem Spiegelbild - Vaha macht's möglich. © Photo: Porsche / Vaha Training with the mirror image - Vaha makes it possible.

Porsche Ventures, the Stuttgart sports car manufacturer's investment unit, is investing in the Berlin company Vaha. The still young Berlin startup from Berlin is producing an interactive "fitness mirror" that is intended to open up new training opportunities for sports fans in their own four walls with the help of artificial intelligence.

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interactive fitness company mirror has launched one-on-one personal training sessions that use a reflective LCD display to let users follow at home. the device uses a two-way camera and audio system to stream personal trainers who can lead users through sessions. the mirror is a

Currently more than 500 "workouts on demand" are on offer; From endurance to weight training to yoga, everything is offered. Artificial intelligence analyzes every movement of the athlete and enables real-time correction of the exercises in front of the mirror. In addition, every Vaha customer can take part in live courses in which they are virtually connected to other athletes. Those who like it more individual can also book "personal training" via the mirror surface. But the pleasure is not cheap: A Vaha mirror costs 2200 euros. There is also a monthly subscription for the sports courses amounting to 40 euros.

Expansion of the

portfolio The investment by Porsche in the Berlin company is in the single-digit million euro range. The lead investor in the current financing round is the London-based investment firm Unbound, founded by Shravin Mittal. In September, national soccer goalkeeper Manuel Neuer joined the company as a partner. He also does influencer marketing for Vaha, as does the choreographer Nikeata Thompson.

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Fitness start-up MIRROR uses a built-in video screen to project workout classes onto your mirror at home. The company was founded by Harvard graduate and former professional ballerina Brynn Putnam, who "I think for investors , they have been really excited about the possibilities for growth."

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"With Vaha we are investing alongside very successful investors in an excellent founding team with years of experience in the sports and fitness sector," says Oliver Frenz, Head of Porsche Ventures Region Europe & Israel. "Porsche Ventures is thus expanding its portfolio in a new market segment." The Stuttgart-based company already holds a stake in the US start-up Playbook, which operates a digital fitness platform.

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Porsche Ventures was founded in 2016 and invests in innovative technologies and business models worldwide. The sports car manufacturer is particularly interested in investments in young companies that are in the early and growth phase. With the investment in Vaha, Porsche Ventures is now involved in more than 20 companies. "Our venture capital arm is developing very positively," reports Lutz Meschke, Deputy Chairman of the Board of Management and Board Member for Finance and IT at Porsche AG.

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This smartly incorporates fitness data that otherwise doesn’t efficiently tie into your exercise routine. What use is “the quantified self” if it doesn’t force I’ve been personally following the growth of smart fitness devices for years. In 2014 I wore smart pants after a complete stranger gave me high tech

Peloton isn’t the only home fitness equipment prospering in the coronavirus era. Brynn Putnam has redefined sweat equity with her interactive workout device that turns any room into an elite gym.

Important impulses for innovation

Porsche Ventures is now active at six locations worldwide, around 20 people are active in the areas of scouting, investments and venture development. For this purpose, Porsche AG provides an investment framework of up to 150 million euros annually. The investments would pay off not only strategically but also financially, emphasizes Meschke: "They generate important innovation and investment impulses - and are already making a growing contribution to value."

Vaha was founded by Valerie Bures-Bönström, who had previously started the fitness studio chain Mrs. Sporty. She is pleased about the entry of Porsche Ventures: "We are very happy to have Porsche by our side. This also opens up great opportunities for cooperation." Especially since their previous marketing ideas for the smart mirror from Corona were thrown overboard: Neither the personal presentation to potential customers at home nor popup stores in shopping centers have been possible so far.

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