It becomes Mindshift Capital’s ninth investment from its inaugural fund, which spans across the U.S., Middle East, and Asia.
Dubai-based venture capital (VC) firm Mindshift Capital has pumped an undisclosed sum into the U.S. live-streaming workout platform, FORTË.
Led by an all-female team of investment advisors, Mindshift Capital focuses on post-seed, early-stage companies with a goal of bridging the funding gap for female entrepreneurs in the U.S., Europe and the Middle East.
The latest move becomes Mindshift Capital’s ninth investment from its inaugural fund which spans across the U.S., the Middle East, and Asia. The addition of FORTË exhibits further growth for the firm’s first fund in securing investments in international companies, and demonstrates the collaborative and far-reaching scope of the VC firm’s team.
In the wake of the Covid-19 pandemic, many brick and mortar gyms were hit hard, forced to close the physical shutters and go online, perhaps permanently. Before the outbreak, the online fitness market was already valued in excess of $5 billion and has seen exponential growth over the last year in terms of downloads, availability, and revenue. Integral to this growth are tech enablers like FORTË who provide a turnkey solution for live streaming.
A technology and subscription-based platform, FORTË, founded in 2015 by Lauren Foundos, works to digitise the experience of gyms and boutique fitness studios by offering live and on-demand virtual sessions led by leading fitness experts. It installs hardware and software into workout studios, so all classes can be livestreamed on the platform, currently available across the U.S., Canada, and Europe. With a portfolio boasting clients like YMCA, UFC, NFL, Goodlife Fitness, Heartcore, and Under Armour, the platform has made impressive gains in the fitness world.
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