Millionaires Harry Kane and Wayne Gretzky Invest in High-End Fitness System Maker, Helping Raise Over $45 Million

Published 06/02/2023, 11:07 AM EDT

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High-end fitness system maker OxeFit continued to find success as they concluded their Series A2 round of fundraising. OxeFit’s co-founder Mohammed Shanableh disclosed their latest fundraiser earned $20 million, pushing their total earning from fundraisers to over $45 million. During the A2 round, millionaires Harry Kane and Wayne Gretzky joined the ranks of OxeFit’s athlete investors. Gretzky’s son-in-law Dustin Johnson and fellow LIV golfer Talor Gooch alongside Dallas Cowboys quarterback Dak Prescott have already invested in the company.

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OxeFit makes high-end versatile training machines that allow users to perform hundreds of exercise combinations on one system. The company has two models, the XS1 and XP1. However, it hasn’t given updates on current prices. According to Forbes, the XP1 base model cost $3,799 in 2022. While Wayne Gretzky didn’t comment, Harry Kane revealed why he invested in OxeFit.

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The $3,799 base price of the XP1 increases when adding upgrades to the machine. While add-ons increase the functionality of the machines, users have to pay a monthly subscription to access all the features. It’s safe to say the average citizen will find it hard to afford these systems. However, despite this, investors like Gretzky and Kane believe in the potential of what OxeFit has built.

Unlike other workout equipment, the XP1 and XS1 are equipped with large displays and are A.I. powered. Among the various features these systems provide are instructional videos, training programs, and workout monitoring. Kane, who saw the machines on Wednesday, thought they were impressive.

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“I was really impressed with the product first,” Kane said, according to Forbes“I definitely feel like it’s the way fitness and health is going in terms of having all the (artificial intelligence). A lot of the data they collect on the machines are very impressive,” he said. The company’s co-founder had contacted the Tottenham Hotspurs forward last year. However, Shanableh said he never coerced Gretzky, Kane, or the other athletes to invest in OxeFit.

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What’s next for OxeFit

Mohammed Shanableh said he didn’t pay or sponsor any of his athlete investors their money. Instead, the athletes who invested believe in the potential of the products and want to help OxeFit grow. In fact, Harry Kane will work with the company and provide feedback so they can understand how elite soccer players train.

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The company is taking things slow and is in no hurry to start Series B. They also claim to have high sales, and more than 100 sports teams, physical rehab, and fitness centers use their machines. Sanahbleh expects sales to increase 200% year-over-year, but they are taking a calculated approach. While finding investors for a good product isn’t too hard, spreading the resources too thin can result in disaster, like in the case of F45, where investor Mark Wahlberg had to take the reigns to save the once-promising exercise company.

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Written by:

Sagnik Bagchi

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Sagnik Bagchi is a sports writer at EssentiallySports who specializes in American sports. He has a deep understanding of combat sports, gymnastics, and weightlifting. He holds a Master's Degree in English Literature from a top university.
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Edited by:

Simar Singh Wadhwa

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