Finland-based online exercise service Yoogaia raised $630,000 led by Inventure, according to a report from TechCrunch.
Yoogaia's site, accessible on laptop computers, allows users to partake in live exercise classes remotely. Classes include yoga, pilates, kettle bell, and core. Users can see teachers through their laptops during the class, while teachers can watch their students with a split-screen webcam view. Participants are not visible to each other.
The classes are made for different skill levels, from beginners to more advanced users. If users miss a class, they can also view the recording for four weeks after the class was conducted before it's taken down.
Membership to the program varies in price. For a month of unlimited classes, users pay $25.25 (19.99 euros). If users buy four months of classes, the membership costs $22.72 (17.99 euros) per month and if they purchase a year of classes, it will cost $18.93 (14.99 euros) per month.
Yoogaia has partnered with several Finnish companies including Finland-based H2 Wellbeing, maker of employee wellness platform HeiaHeia. The company offers employers a wellness program with an emphasis on social interaction and gaming. The company also offers companion apps on iOS, Android, and Microsoft devices.
In July, Yoogaia raised $116,468 (92,172 euros) in a crowfunding campaign that offered equity as the incentive for funding the company. The company gave away 4.6 percent of its shares during the campaign to 81 funders.
The company said that the money it received from the crowdfunding campaign would go to launching an English-version of Yoogaia and commercializing Yoogaia's business-to-business offering between the summer and fall of 2014. In the fall, Yoogaia plans to develop a while label video platform for its business to business offering and develop an iOS app so that users can also take the classes anywhere they want.
Venture firm Inventure previously invested in another Finland-based digital health startup, Beddit, which develops sleep monitoring devices for both the clinical and consumer markets.
Last week, a startup that has developed a smart yoga mat, called SmartMat, started a Kickstarter campaign. The mat has pressure sensors that connect to the user’s mobile device via Bluetooth. The device has three modes. When the user is at home, the device will actively coach them on posture like a live yoga instructor would. When they’re in class, it tracks movement and can offer tips in visual only or audio only mode (with headphones) so it doesn’t disturb others. SmartMat is already overfunded, with $182,000 raised of its $100,000 goal on Indiegogo. The mat will retail for $447, but is available to backers for $297.