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Friday, June 14, 2024

Harry Kane Invests in OxeFit, Fitness Startup Passes $45M in Funding

  • The English soccer captain joins Dak Prescott, Jalen Ramsey, and Dustin Johnson as athletes to invest in OxeFit.
  • Kane’s investment comes as he said this week that he wants to “explore” a career as an NFL kicker.
Harry Kane joins Dak Prescott and Dustin Johnson as investors in OxeFit.
Courtesy of OxeFit

English Premier League soccer star Harry Kane has become the latest athlete to invest in OxeFit, an at-home workout machine powered by artificial intelligence. OxeFit has now raised more than $45 million in total funding, and its sales have increased 200% year-over-year, the company said. 

Kane joins a star-studded lineup of existing OxeFit investors spanning Dallas Cowboys quarterback Dak Prescott, Miami Dolphins cornerback Jalen Ramsey, golfer Dustin Johnson, and Toronto Raptors forward Thaddeus Young. Prescott invested in OxeFit as part of the Texas-based company’s $12.5 million Series A round in 2021. 

OxeFit’s touch-screen-based workout machines use computer vision to provide form feedback to users during strength training exercises. The AI fitness startup leverages electric motors to generate force, similar to Tonal, the at-home fitness company backed by stars such as LeBron James, Serena Williams, Mike Tyson, and Drew Brees.

 “In addition to our many other pro-athlete investors, Mr. Kane using the OxeFit smart gym and online content as part of his Premier League football training further validates OxeFit’s smart technology and the unique versatility of our customized training capabilities,” OxeFit CEO Rab Shanableh said in a statement.

Kane’s investment in OxeFit comes amid a rocky year for the at-home fitness industry that once boomed during the pandemic. Tonal was valued at around $600 million in April, a sharp decline from its $1.6 billion valuation in 2021. Peloton has lost about $48 billion in market cap since its stock traded as high as $167 in January 2021 and now hovers around $7.25.

Kane, who captains England’s men’s national team and plays striker for Tottenham Hotspur, is also an investor in TOCA Football, a startup building soccer entertainment venues similar to Topgolf. The 29-year-old aspires to one day join fellow OxeFit investors Prescott and Ramsey in the NFL

“It’s something I definitely want to explore. I know it will be a lot of hard work. I don’t expect to just walk up and start kicking field goals,” Kane said this week on Good Morning America. “But yeah, it’s something I’d love to do. The NFL I have been following for about ten years now, and I love it, so I’d love to give it a go.”

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