Home Fitness Manufacturer FitWood Seeks €100,000 on Invesdor For Expansion

Finnish home fitness equipment manufacturer, FitWood, has launched a crowdfunding campaign on Invesdor, seeking €100,000 (max target €450,000) as it prepares to expand.

The company stated it makes home fitness equipment that is both easy to use and looks great every day. It creates a new category of fitness equipment with sustainable Nordic wood and Scandinavian design. While sharing details about its creation, FitWood stated:

It all started from a simple realisation. During his years as a national level sprinter (100 m), and afterwards as a sporting retailer, FitWood’s CEO Matias [Kukkonen] always did bodyweight training at home. But he had a problem: all the equipment available was too ugly for a home, made out of cheap materials and felt flimsy in use. Matias joined forces with Ossi, an experienced karate and athletics enthusiast, and investor. With their experience as fitness and wellbeing pros and entrepreneurs, Matias and Ossi set out to create beautiful and sturdy equipment that fits your home.”

Recently, FitWood has launched its first signature line with hockey player Aleksander “Sasha” Barkov. The company also revealed:

FitWood positions itself as premium fitness equipment. Competition in lower price categories is expected to become increasingly fierce, with retailers’ own brands and direct-from-Asia brands further lowering margins. The premium category has very few players, with the design approach and chemical free materials being clear differentiating factors. The fact is that no other products today have merged the worlds of home fitness and design together and achieved a high degree of market penetration. Our most substantial competitor is Nohrd, founded in 1989 and operating today with 370 employees. Overall, the situation is similar to the pre-iPhone mobile phone market. This presents the major challenge, as well as the major opportunity, that we face in 2017: FitWood will be many consumers’ first exposure to design fitness.”

Since its debut, the campaign has successfully secured 95% of its funding target (just a little over 95,000). It is set to run on the crowdfunding platform until March 30th.

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