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UAE-based Mindshift Capital has invested in US-based digital health platform FORTË, a subscription-based service providing {hardware} and software program options to live-stream health courses.
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This marks the ninth funding for Mindshift Capital Fund, which invests primarily in female-led tech startups serving customers within the Mena area and worldwide.
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FORTË’s present customers embody the NFL, the YMCA, the UFC, and Canada-based Goodlike Fitness amongst others.
Press launch:
UAE-based Mindshift Capital has invested in FORTË, a proprietary resolution to digitise health provided at gyms and boutique studios. Both a expertise and subscription based mostly streaming platform, FORTË installs {hardware} and software program into studios, which allow courses to be streamed stay to FORTË ’s platform, at the moment working within the US, Canada and Europe.
Founded by Lauren Foundos, in 2015, FORTË is revolutionising the health business by offering entry to studio courses coached by main health specialists worldwide. As a bespoke resolution to an business, beforehand reliant on both Zoom or Vimeo, the FORTË expertise and repair is now being utilized by YMCA, UFC, NFL, Under Armour World Headquarters, Goodlife Fitness (Canada’s largest health club chain), The Edge, Heartcore (from Europe) and lots of others. FORTË permits brick and mortar gyms to now go surfing and compete with the likes of Peleton for an ‘on demand’ client health service.
Prior to 2020, the web health market surpassed USD 5 billion and has skilled exponential development over the previous 12 months throughout all metrics – downloads, availability and income. Central to this development are the tech enablers reminiscent of FORTE’s platform that delivers a turnkey resolution for stay streaming.
“Mindshift Capital invests in distinctive feminine based firms on the forefront of innovation of their chosen area,” stated Founding General Partner, Heather Henyon. “We are very excited so as to add FORTË to our portfolio. Lauren clearly noticed the chance to steer the evolution in expertise within the health business. She was forward of the curve having invested six years in constructing this enterprise and has been in a position to successfully seize the sturdy demand within the final yr – greater than 2000 suppliers reached out with curiosity of their white-labelled resolution.”
“We are pleased with Mindshift’s capacity to entry these investments in such a aggressive surroundings. This funding is extra proof of the top quality of deal circulation that we’re experiencing because of our gender-lens funding focus and distinctive world networks,” continued Heather Henyon.
Lauren Foundos, Founder and CEO, FORTË, says; “In 2016, I left my job on Wall Street and spent the subsequent three years growing proprietary {hardware} and software program that may be simple for nontechnical health club house owners and operators to make use of. Now, customers inform us that we’re altering their lives and making them more healthy. Gym house owners say we helped them save their companies throughout the pandemic lockdowns.
Funding for female-founded ventures is traditionally decrease than that of male-founded groups. We really feel lucky that gender-lens VC’s reminiscent of Mindshift Capital exist to amplify the message that investing in girls is smart. We are proud to affix the Mindshift portfolio and look ahead to working collectively to develop the FORTË service globally, and to achieve extra health lovers in their very own houses, while supporting unbiased studios and instructors through our expertise”
This the ninth funding for Mindshift Capital in its inaugural fund. To date the fund spans the US, Middle East and Asia. The addition of FORTË demonstrates additional development for the fund in securing investments in world firms, and showcasing the collaborative and agile attain of the Mindshift group amongst sturdy co-investors.
