Home gym startup Vitruvian quietly raises $21.8 million in Series A extension

Perth home fitness startup Vitruvian has quietly raised $21.8 million in what it’s calling an internal extension to a previous raise.

A Vitruvian representative confirmed with SmartCompany that the most recent cash injection is compromised of previous investors and is considered an extension of its $21 million Series A raise from 2022, which was led by Larsen Ventures and Ten13.

This isn’t the first time that Vitruvian has done repeat funding rounds. It engaged in two seed rounds across 2020 and 2021 for $3.4 million and $11.2 million, respectively.

Vitruvian specialises in portable and adaptable gym training for the home. Its Trainer+ product is described as an “all-in-one home gym solution” and a “personal trainer in a box”.

The apparatus, as well as an accompanying app, uses minimal equipment combined with AI to offer a range of different exercises with a resistance of up to 200kg.

The algorithm is said to be able to adapt workouts to an individual user’s performance. Much like Peloton, there is also a $49 monthly subscription option that offers unlimited access to exercises as well as performance metrics.

The idea for the Trainer+ came to founder and CEO, Jon Gregory, back in 2008. It was also preceded by the Vitruvian V-Form Trainer. But it was during the 2020 COVID-19 pandemic that the new and improved model entered the market, complete with bespoke hardware and software.

And it was good timing, with at-home exercise equipment being hot commodities, and in some cases, hard to come by. As a lifter who wasn’t allowed into my bodybuilding gym down the road, I felt this sting.

Vitruvian is available in over 20 countries but is particularly popular in the US due to its sizeable market. According to an interview with Forbes, it has also proven popular with US and Australian sporting teams alike for use while travelling.

According to Gregory, this Series A top up will be used to “execute on our hardware, software and content roadmap to get more stronger, faster”.