Motosumo secures investment from Promentum Equity and US-based Vedere Ventures, to further expand its group training technology business.
Motosumo, a Copenhagen, Denmark-based company providing group training technology powered by the smartphone, announced securing an undisclosed amount of investment funding.
The money comes from US-based Vedere Ventures and from Copenhagen-based Promentum Equity Partners and will be used to drive the market forward and democratize advanced fitness technology-based training tools.
Motosumo, founded in 2014 by CEO Kresten Juel Jensen, Allan Olesen and Mads Madsen, aims to develop the world’s leading network for group training with the help of advanced motion detection algorithms. For this, the company has built a technical solution - a "gait analysis” system based on body mounted sensors coupled with its own algorithm to model motion physics - which enables everyone to receive real-time measurements and connects everyone live, solely via their mobile phone.
Prior to this deal, Motosumo raised $500k from SEED Capital in 2016.