Crowdfunded Fitness Device Moov Raises $3 Million in Funding from Banyan Capital

Moov, a device that has claimed the mantle of the “most successful crow funded fitness device of all time” has raised $3 million in a series A run led by big name investor Banyan Capital.  Moov raised $1 million in a crowdfunding round earlier this year  – in less than 2 weeks.  This new investment will assist in furthering Moov’s goal of incorporating artificial intelligence to make the perfect workout a reality.

moov-fitness-11Moov is a wearable device that acts as a personal fitness trainer. This next-generation device tracks your movements as you exercise and provides interactive coaching. Using a combination of sensors and A.I. technology, Moov is able to make personalized, real-time suggestions about what you can do to do improve. Moov provides “smart feedback” to the user.  For example, it can tell you if you are landing too hard while you’re running or if you need to punch harder during cardioboxing. Moov teaches you how to push your limits and prevent common injuries, so you can get the most out of every workout.

Moov was founded by  Nikola HuMeng Li and Tony Yuan.  The team has experience at Apple, Microsoft and other big tech names.

“The future of fitness is coaching, not calories, and Banyan Capital recognizes this trajectory,” says Moov CEO Meng Li. “Other fitness wearables simply track a user’s progress, but that alone is no longer sufficient. Moov goes beyond this – contributing to biomechanics research, helping further the sports science field, and providing consumers with an affordable way to take control of their health and fitness.”

Within six months of launching the crowdfunding campaign, Moov delivered devices to its early backers, making it one of the only few crowdfunded products to deliver ahead of schedule. Moov also released Run and Walk and Cardio Punch apps in the iTunes store.

Read more at: http://www.crowdfundinsider.com/2014/10/53384-crowdfunded-fitness-device-moov-raises-3-million-funding-banyan-capital/

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