Tempo, Maker of $1,995 ‘Smart Gym,’ Is Valued at $250 Million

July 29, 2020, 10:00 AM

Tempo, which makes an at-home workout tool that retails for $1,995, has raised new capital valuing it $250 million amid a surge in demand for fitness products that don’t require a trip to the gym.

The San Francisco-based startup raised $60 million, led by Norwest Venture Partners and General Catalyst, founder and Chief Executive Officer Moawia Eldeeb said in an interview. Fresh capital will be used to boost the company’s manufacturing capabilities and to fund a second production studio where it will film classes like high-intensity interval training and weight lifting that users can stream on the device.

Tempo’s fitness tool, which it describes as a studio, relies on artificial intelligence.
Source: Tempo

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