Funding

Zing Coach funding news – Health tech Startup Zing Coach Raises $10Million in Series A Round Funding

Jun 24, 2024 | By Startup Rise EU

Munich-based Zing Coach, a health tech startup with an AI-powered fitness app, raises $10million in series A round funding from Zubr Capital and Triple Point Capital.

Munich-based Zing Coach, a health tech startup with an AI-powered fitness app, raises $10million in series A round funding from Zubr Capital and Triple Point Capital.

SUMMARY

  • Munich-based Zing Coach, a health tech startup with an AI-powered fitness app, raises $10million in series A round funding .
  • Zing is a new line of personal fitness companions, or fitness products.

With this funding, the firm hopes to grow its workforce, enter new markets, and improve its AI-powered fitness software.

Viktar Dzenisevich, Investment Director and Partner at Zubr Capital, says, “When the first iPhone was released 17 years ago, it marked the beginning of the mobile app era, and innovation in the space has continued to exceed expectations with each passing year. Today, with recent advancements in AI technology, apps have become pocket-sized assistants, offering personalised advice and feedback with human-like communication. Digital fitness, in particular, is a huge area of interest for consumers and we’re excited to support Zing Coach, a true leader in this space.We believe this investment will enable the company to grow tenfold in the years ahead and pull ahead of its competitors in the growing fitness app market,”.

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Even though people are becoming more interested in leading healthy lives, 54% of people give up on new behaviours after six months. In order to balance development and motivation, Zing Coach provides individualised AI-powered exercises that adjust to each person's performance, vitals, activity level, and health data.

Co-founded in 2021 by Shaolin Monk Walter Gjergja (Shi Xing Mi), Zing Coach leverages advanced technology and diverse user data to offer a personal training experience. Walter says, “Zing Coach aims to combat the low retention rate of fitness apps since many individuals download them and give up within days. In fact, SensorTower found our app holds a higher retention rate than any competing app.”

Zing Coach does not use user assessments through quizzes, in contrast to other fitness apps. Rather, it makes use of ZingLab, which offers sophisticated fitness testing, computer vision-powered movement analyzers, and body composition scanners that are on par with DEXA scanners used in professional settings, to provide reliable evaluations.

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An AI Coach that uses a vast language model and a customised tone of voice depending on the user's emotional profile leads users. Throughout the user's fitness journey, this AI Coach keeps track of form, offers personalised suggestions, encourages them, and tracks their progress.

Co-founder Walter said ,“The shift towards AI has made ассess to AI workouts easy through mediums such as ChatGPT, but these workouts aren’t truly a persоnalised experience. Unlike other AI fitness apps on the market, Zing Coach bridges the gap between technology and pеrsonаl trainers by using movement analyzers to provide live feedback and motivation to users. We aim to build healthy habits, as 60 to 85 per cent of the global population doesn’t meet the WHO’s recommended levels of physical activity, which can lead to heart disease, stroke, and type 2 diabetes. We are using our app to support a mоrе sustainable healthy lifestyle. Despite the growing interest in embracing healthy lifestyles, building new habits remains a challenge, with half of the people giving up on their physical activity goals within six months. We give as much importance to empathy, support, guidance, and positivity, as to the actual cardio, strength, flexibility, and other training,”

With the money, Zing Coach will be able to grow its staff and improve its marketing efforts in order to penetrate new international markets. It will also continue to improve its AI Coach, which customises workouts and motivational techniques by leveraging sophisticated analysis of user behaviour across text, audio, and video.

The AI Coach will go live for all customers this autumn following a successful beta test earlier this year. The business intends to use similar technology in other fitness domains, such as yoga and pilates.

Tanya Parfenyuk, co-founder and CEO at Zing Coach, says, “We have experienced exponential growth in the past year, but the vast digital fitness coaching market remains largely untapped. We want to make leading a healthy lifestyle and achieving ambitious fitness goals attainable for all by providing highly personalised workout planning and guidance. Typically, this would cost hundreds of dollars for just a few hours with a personal trainer — with Zing, it costs less than a cup of coffee each week. From a user’s perspective, our inclusion of applied practice and coaching sets us apart from traditional fitness platforms. We’ve set the benchmark and this investment will ensure that we can maintain our lead in the market.”

About Zing

Zing is a new line of personal fitness companions, or fitness products. Your smart TV, wearables, personal messenger, and smartphone are all connected to Companion, which analyses the data and converts it into movement commands.

The four foundations of Zing's programme are exercise, recuperation, mindfulness practices, and motivation. Zing is a sophisticated AI coach. Performance optimisation, deep personalisation, superior health metrics tracking, and a customised motivational style are the main focuses of its innovative methodology.

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