Design fitness equipment manufacturer FitWood has raised nearly 0.4 million euro seed round from Finnish and international angel investors. The threefold result, compared to an average angel investment round in Finland1, tells of confidence towards Finnish manufacturing and the opportunities of the new product category. It is one of the largest Finnish angel investment rounds in years and the largest in the Tampere region this year. The founders have background in competitive sports, and they now challenge both the industry relying on low-cost imports and the people to improve their health with body weight training.
FitWood’s success springs from Scandinavian design, fitting into home décor, and hard northern birch wood, in addition to the functionality and durability of the equipment. The beautifully designed fitness equipment do not need to be hidden into a closet, which helps to exercise more regularly. The products combine the global trends of body weight training, timesaving, home décor, sustainability, and local manufacturing.
“Wood has always had the best feel, that is why gymnastic rings are still made of wood. Our material, hard Finnish wood, is strengthened by the harsh winters and does not include harmful chemicals like many plastics do. It also doesn’t leave marks on furniture or break the aesthetic harmony of your home. Body weight training fits even a busy person’s schedule and lets you train safely on your own terms, be it at home or at a lakeside summer cottage. We also believe that our products can inspire children and the young to exercise. FitWood of Scandinavia is the choice for a quality and design conscious, active exerciser,” says FitWood CEO Matias Kukkonen.
FitWood’s uncompromising goals are quick entry to the international markets, creating the new category to the fitness equipment market, and seven figure revenue within the first two years of operation.
“We represent a whole new concept for fitness equipment, with an extremely promising future. I recommend those interested to contact us as soon as possible, because it is still possible to join us on the next investment round,” tells the chairman of the board, Ossi Numminen, also active in the Finnish Business Angels Network.
1: Source: http://www.fiban.org/news/kasvurahoitus-suomessa-2015-suomessa-sijoitettiin-253-miljoonaa-euroa-yli-400-kasvuyritykseen
For more information:
FitWood of Scandinavia
p. 050 3080 663
Chairman of the Board
FitWood of Scandinavia
p. 0400 850 777
By Martti Vaalahti