Since fitness options at home were so limited during the pandemic, many startups dedicated to provide workout platforms and equipment sprang up to try and fill the gap. Home fitness soon became a huge industry, with several firms winning big contracts with major health organizations. Although not all of these companies have survived the recent downturn in the economy, they have left an important legacy in helping people stay physically active during difficult times.
As Peloton struggled to maintain its momentum in the wake of the global pandemic, some customers opted to return to their normal routines while others simply stopped paying attention. This reality may not have come as a surprise to management, who were aware that interest could wane once the world began returning to normal. In order To sustain their growth, Peloton made a number of questionable decisions that would ultimately lead them towards failure. These included over-extending themselves in terms of new product offerings and locations as well as failing to properly account for customer demand. Amidst these struggles, it is uncertain whether or not Peloton will be able to rebound and remain a leading player in the fitness industry.
One interesting trend to watch in the 2018 technology landscape is the continued uptake ofteleconferencing firms by larger companies. While many observers believe that this pendulum swing is only temporary, others see it as a sign that the new technology isn’t going away altogether – though it will likely thin out as more companies begin to take advantage of its convenience and cost-effective nature.
Given that gyms are a popular exercise option for most people, the COVID pandemic had a significant impact on the digital fitness sector. However, despite this, investors seem to be unconcerned about the state of the industry. This may be due to the fact that gyms are seen as an unattractive “default” option among exercisers, with minimal barriers to entry and high efficacy.
It seems that many people are turning to fitness and health as a means to improve their economic prospects in the current recession. This might be due in part to the fact that there is a clear correlation between good physical health and thriving economic prospects.
In the current economy, large Silicon Valley tech startups are seeing their risk appetite decrease. This has lead to a stricter raising environment for these companies, making it more competitive and requiring stronger proof of revenue funnel Flows (PMF evidence). Many of the VCs we spoke to believe that this trend is beginning to relax sooner than expected; however, they still expect there to be some tough competition when it comes to fundraising.
Quell is a gamified approach to the market that takes resistance bands seriously. With more titles on the horizon, their funding will go towards software growth as well as increasing company headcount. This system proves to be an exciting and engaging way to work out and game at the same time, providing serious exercise with a healthy dose of fun.
Shardfall is a live-service game that will be launched in early 2018. The next two games that Brookhouse plans to develop are still unknown, but they will likely involve game development and platforms. With this Series A investment, the company anticipates growing its team from 30 to over 50 in order to support multiple projects simultaneously. This wider focus on game development could indicate an increased emphasis on quality over quantity for the company moving forward.
The Vive Focus is a new standalone VR headset that doesn’t need to be linked to a PC or phone. It’s currently up for preorder for $249, and will ship this year. The company doesn’t currently offer a subscription service, but say it’s exploring the avenue. VR is definitely possible with the Vive Focus, but there’s no specific plan to add that functionality just yet.
The drawbacks of VR when it comes to fitness can be reflected in the fact that many people find the headsets too heavy and sweaty to work out with or suffer from motion sickness during high-intensity play. In addition, VR lacks real resistance, which puts a ceiling on the efficacy of many workout types. However, these challenges could soon be overcome by initiatives around sensors and controllers that track movement and feedback. This way, individuals would be able to tailor their workouts to better suit their own needs while still benefiting from the immersive nature of VR technology.
