Katalyst Secures $5.6M Series A Funding to Advance Full-Body EMS Technology

On November 7, 2019, VCBeat (WeChat ID: vcbeat) learned that fitness startup Katalyst had completed a $5.6 million Series A financing round. The round was led by Octopus Ventures. Additionally, Jo Oliver, a partner at Octopus Ventures, will join Katalyst’s board of directors.

Katalyst, founded in 2015, is a fitness company based in Seattle, USA. The company combines exercise science with modern smart technology to provide users with hyper-personalized training experiences. Katalyst’s initial concept was to establish a gym where people could engage in short-duration workouts. However, after customers expressed a desire for easier and more convenient services, the company shifted its fitness offerings to a home-based version.

The company achieves fitness goals by using whole-body electrical muscle stimulation (EMS), a technology that is highly popular in countries such as Germany, Japan, and Brazil. EMS training works by sending electrical signals through the skin to stimulate human muscles, mirroring the fundamental principle by which the brain controls bodily movement. Katalyst states that the sensation initially feels like a massage, with pressure gradually increasing until the muscles fully contract. While anyone can use EMS training for low-intensity workouts, it typically appeals more to older adults, individuals with limited mobility, or those with limited time for exercise.

Oliver believes that EMS has tremendous growth potential across U.S. states, stating, “Katalyst will meet the needs of American consumers by combining the efficiency and effectiveness of full-body EMS training with the excitement and convenience of on-demand smart fitness options.”

Woltermann, founder and CEO of Katalyst, stated: “Recently, two major German EMS companies, Miha Bodytec and Xbody, have obtained U.S. clearance. Overall, the industry is growing. The consumerization or gamification of fitness is a widespread trend.”

Woltermann believes that now is a good time to develop EMS in the United States, partly because Peloton has paved the way for new fitness models, thereby spawning high-tech home fitness startups, including Tonal, FightCamp, Mirror, and Hydrow.

This fall, Katalyst shipped a limited number of systems to a private group and opened a waitlist. The system is priced at approximately $2,000, with a monthly workout subscription fee of around $39.

The FDA classifies EMS as a medical device but has not yet approved EMS products for weight loss, warning consumers that unregulated devices may cause electric shocks or burns. Katalyst’s studio version of its EMS system has received FDA approval, and the company is currently awaiting approval for the home-use version. The company hopes to begin accepting orders next month and ship products in early 2020.

Octopus, founded in 2000 and headquartered in London, UK, is a venture capital firm. Leveraging the expertise of its venture capital partners in the UK, the US, Singapore, and China, the firm provides its portfolio companies with unique global experience, introductions, and guidance. Octopus is committed to multi-stage investments in sectors such as healthcare, energy, and real estate, managing over £8.3 billion in assets.

(Compiled by Jiang Ying)