Y Combinator’s Demo Day is a first soirée on the startup calendar.
This year, though, instead of a compact room replete with low pitches and lacklustre catering, Demo Day has become virtual.
Even further, it was pushed up by a week, starting the public appearance of a host of firms.
Let’s see one of the pitching startups, FitnessAI
The Story of FitnessAI
FitnessAI is a mobile application that encourages users to lift weights, assisting them in setting innovative goals, achieve strength over time and bypass frustration while evading burnout.
The company was established by Jake Mor in 2019, leveraging a workout data introduced that Mor had earlier collected. Mor said that in school he developed a tool called Lift Log (you can locate it on the App Store).
That app was “only a very mild weightlifting tracking tool,” Mor stated, but “across the period of three years over 40,000 users logged 6 million workouts.”
That large set of workout data points backed Mor build FitnessAI’s core weightlifting algorithm.
Hence from a data set to an algorithm to a mobile app to a supervised weightlifting adventure, FitnessAI has done a lot in the previous year or so. And it has performed so while mostly self-funding.
Investments for FitnessAI
To date, the firm stated that it has bootstrapped, aside from its regular Y Combinator check. That said, it seems to raise throughout the Demo Day cycle.
How has it acquired to where it is now on such limited capital? By expanding its profits and funding for its expansion.
Certainly, the mobile app firm is presently north of $100,000 monthly recurring revenue (MRR), providing its annual recurring revenue (ARR) of more than $1.2 million.
For a company of four currently, that was 1.5 not too far ago, that’s loads of cash.
But with added money coming more possibilities for product enhancements, and go-to-market work.
What FitnessAI has displayed so far is that people require help lifting, and they are ready to pay for support.
FitnessAI has a fraction of price points, but charges a little less than $100 annually, glancing at its App Store listing today).
More further after Demo Day if FitnessAI increases the round, it’s seeking for.
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