VAHA receives investment from Porsche

Porsche Ventures, the investment unit of the Stuttgart-based car manufacturer, is investing a single-digit million euro amount in the manufacturer of "Fitness Mirrors" VAHA. The London investment company Unbound, founded by Shravin Mittal, was the lead investor in this round of financing for the young Berlin-based company, which had already been able to win national football goalkeeper Manuel Neuer as a partner in September.

The Berlin start-up VAHA was founded one and a half years ago. Its interactive “Fitness Mirror” opens up new training opportunities for active people in their homes with the help of artificial intelligence. Currently, the company offers more than 500 workouts on demand – from endurance and weight training to yoga. Artificial intelligence analyses every movement of the athlete and enables real-time correction of the exercises in front of the mirror. In addition, every VAHA customer can take part in live courses - being virtually linked to other athletes. Personal training can also be booked via the mirror's surface and offers 1:1 contact with a trainer.

“Together with very successful investors, VAHA enables us to invest in an excellent team of entrepreneurs with years of experience in the sports and fitness sector,” says Oliver Frenz, Head of Porsche Ventures Region Europe & Israel. “Porsche Ventures is thus further expanding its portfolio in a new market segment.” Porsche's investment unit had already acquired a stake in Playbook in October. The platform of the US start-up offers trainers the opportunity to monetize their digital training content via the company's subscribers.

Founded in 2016, Porsche Ventures invests in innovative technologies and business models worldwide. Together with VAHA, it currently holds more than 20 investments. Its venture capital activities focus on investments in young companies in their early and growth phases. “Our venture capital branch is developing very positively,” reports Lutz Meschke, Vice-Chairman of the Executive Board and Head of Finance and IT at Porsche AG. “Porsche Ventures is now active at six locations worldwide, with around 20 people working in the areas of scouting, investments and venture development.” Porsche AG provides an investment framework of up to 150 million euros per year. “These investments pay off not only in strategic but also in financial terms,” says Lutz Meschke. “They generate important innovation and investment impulses - and are already making a growing value contribution.”

VAHA Managing Director Valerie Bures-Bönström is positive after the transaction: “We are very happy to have Porsche on our side. This opens up additional great opportunities for cooperation.”

Source: Porsche
Picture: VAHA

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