Racefox, the world’s first real-time digital coach, accelerates growth with 15M SEK financing round led by Spintop Ventures investing alongside Walerud Ventures, Doberman Forward and world champion XC skier Tord Asle Gjerdalen
Racefox has developed the world’s first real-time digital coach, which builds personalized training plans for running and skiing that adapt as you train so you reach your goals quickly, efficiently and without injury.
Racefox is a real-time digital coaching made possible through advanced motion analysis. Racefox athletes wear a motion sensor attached in the center of the chest connected to the smartphone or smartwatchwith real-time coaching in the ear. Understanding how athletes move during endurance sports allows for unique real-time coaching opportunities such as behaviour modification in the movement or warning when fatigue causes a breakdown in technique. “I use Racefox in my training to better understand how my movement change during longer training sessions” says Tord Asle Gjerdalen, winner of the 2017 and 2018 Visma Ski Classics tours and two times gold medalist at the cross country skiing world championships.
Racefox started based on research from the Royal Institute of Technology (KTH) and the research institute SICS Swedish ICT by founders Christer Norström and Magnus Jonsson. A keystone principle of the founders was to focus on the advanced motion data analysis, rather than on the wearable technology. “Over time, we expect that our intelligent software services can provide real-time digital coaching from wearable technology frommany vendors” said Christer Norström. “Our unique value is in understanding our athletes’ unique “motion DNA” and providing real-time coaching in the ear during the session.”
“Racefox is true artificial intelligence at work with some of the most popular endurance activities. We have seen that Racefox users not only enjoy the real-time coach but continuously develop season after season. The Spintop team members have finished 10+ trail ultras, 10+ Lidingöloppet, 6 Ski Classics races and a number of marathons and half marathons so we have some insights into the enormous potential of Racefox to hundreds of millions of everyday athletes like ourselves to unlock their potential.”, says Finn Persson, partner at Spintop Ventures.
The investment will be used to expand the Racefox community, leverage strategic partnerships, rebrand Racefox, strengthen the team, protect immaterial property, and continue to invest in further enhancing the product development.
“We are excited to have secured Spintop Venture’s help in our journey to be the world’s first real-time digital coach that focuses on actionable insights in the moment. What I really appreciate about Spintop is that they are as enthusiastic about the future of real-time digital coaching as we are. Their experience in endurance sports allows another level of market understanding and insights.” says Magnus Jonsson, Racefox CEO
With this investment, Racefox has attracted a total of 45MSEK since the beginning of 2018 from Horizon 2020 phase 2, the EU project RAIS, Spintop Ventures, ALMI Invest, Doberman Forward, Walerud Ventures and several private investors including XC skiing world champion Tord Asle Gjerdalen.
Facts about Racefox
- Racefox was founded in Sweden by Christer Norström and Magnus Jonsson in 2014 to leverage technology to help skiers learn and improve their “motional” selves in XC skiing based on dynamic data analysis and artificial intelligence.
- In 2018, Racefox Run was launched.
- Racefox is a spinout from the RISE Research Institute, and one of the few consumer products built with advanced AI.
- Try the real-time digital coach: www.racefox.se.
Facts about Spintop Ventures
Spintop Ventures, founded in 2009, is a venture capital firm investing in early stage technology companies from across the Nordic region.
Finn Persson, Partner Spintop Ventures
+46 705 116 574
Magnus Jonsson, CEO Racefox
+46 703 227 578