Fitnet, a Blacksburg, Virginia-based virtual fitness studio application, raised a funding from The Center for Innovative Technology (CIT)‘s CIT GAP Funds.
The amount of the deal remained undisclosed.
The company intends to use the funds to develop an iPad application, and bring the product to the next level of market validation.
Co-founded by Bob Summers, Fitnet combines content (weekly video workouts, including yoga, karate, Pilates and kickboxing), computer vision-based biometric feedback and social networking to help maintain users’ fitness via a mobile app.
It also helps trainers reach their audiences.
Users receive free membership with targeted video advertisements, and can upgrade to a premium subscription of $5 a month.
FinSMEs
17/09/2013