By: Andrew Cohen – May 3, 2022
Chicago Bears quarterback Justin Fields and Denver Broncos Pro Bowl safety Justin Simmons are among the newly announced equity holders in AI-powered strength training machine Speede Fitness. Speede has raised $2.5 million in its oversubscribed seed round.
The company’s Speede Challenger cable machine allows for push and pull exercises while workout data is tracked on its built-in display screen. The machine can generate up to 2,000 pounds of resistance, and its concept is similar to the LeBron James and Serena Williams-backed Tonal device that uses an electromagnetic motor to create force. Tonal’s artificial intelligence can automatically adjust weight based on a user’s strength during a workout.
Kansas City Chiefs wide receiver Marquez Valdes-Scantling, Bears tight end Cole Kmet and cornerback Jaylon Johnson, UFC fighter Michael Chandler and Charlotte Hornets NBA center Mason Plumlee also own equity in Speede Fitness. Sports marketing entrepreneur David Meltzer is also an equity holder.
The Speede Challenger is currently available for pre-order and is expected to launch this summer with a $39 per month monthly subscription. Another similar AI-enabled strength training machine developer is OxeFit, whose investors include Dallas Cowboys quarterback Dak Prescott, former NFL stars Jason Witten and Dez Bryant and renowned orthopedic surgeon Dr. James Andrews.
Author: Andrew Cohen
