FIT TECH START-UP STRAFFR CLOSES SEED FINANCING ROUND OF EUR 300 THOUSAND
- STRAFFR concludes seed financing round of EUR 300 thousand.
- The investment is primarily intended for the expansion of the team and the expansion of series production.
- Investors include the North Hesse Investors’ Club and the State of Hesse through the Hessen Capital III Fund (EFRE) GmbH.
STRAFFR is active in the rapidly growing health and fitness market. The Kassel-based company has developed a fitness platform to enable personalized and effective training anytime and anywhere. The intelligent STRAFFR band, known from the TV show “Die Höhle der Löwen”, is extremely versatile with over 50 established exercises. The measurement technology, for which a patent has been applied, enables simple and effective training.
Stefan Weiss, CEO and co-founder: “Our vision is to actively improve people’s lives through personalized and effective training systems. We are very pleased that we are coming a lot closer to this vision with the financing round and strong partners from Hessen. “
Christoph Jakob, initiator of the North Hesse Investor Club: “We are very proud that we have been able to successfully finance such a promising start-up as STRAFFR in such a short time. The current situation with closed fitness studios across the country offers excellent opportunities for the product. “
“Digital and intelligent sports products are enjoying increasing popularity. With our public equity capital, we have enabled STRAFFR to further develop the market and successfully implement the desired market penetration ”, says the responsible investment manager Jürgen ten Elsen from the investment management company Hessen GmbH (BM H), which, among other things, manages the Hessen Kapital III (EFRE) GmbH. “The task of BM H is to provide start-ups and small and medium-sized companies in Hessen with equity. The managed funds are largely fed by funds from the State of Hesse, ”adds the managing director of BM H, Jürgen Zabel.
The investment serves to further develop the team in the software and marketing area. This is intended to further expand and improve the functionality of the fitness platform. In addition, production capacities will be increased in order to deliver the current pre-orders faster. Especially in times of the pandemic, people are looking for new alternatives to the gym and are increasingly relocating training to their own four walls. The pre-orders of the intelligent fitness band currently amount to more than 100 kEUR and the sales figures are increasing.
STRAFFR has developed an intelligent elastic fitness band to enable personalized and effective training anywhere and anytime. The digital tape connects to the STRAFFR training platform, on which users can keep fit with over 50 exercises. The company was founded in Kassel in 2019 and has another location in Hamburg. The start-up was financed, among other things, by the EXIST start-up grant and is the winner of the Hessian start-up award 2020.
Investors Club North Hesse | Website:https://www.ic-nordhessen.de/
Hessen Capital III (EFRE) GmbH | Website:https://www.hessen-kapital.de