Slovenian blockchain startup Fit&Beat raises $25M

The Celje-based blockchain startup Fit&Beat has raised $25 million in funding to develop its own metaverse. The round was led by Bahamas investment firm GEM Digital Limited.

• Founded in 2018 by Mark Kalin and Tomaz Dolensek, Fit&Beat is a developer of blockchain technology solution intended to serve the fitness industry. 
• The company’s AI-based app analyzes data from users and coaches in the Fit&Beat network to create individualized exercise plans for users. Users earn an FTB coin with every calorie consumed, trade and purchase across all branches of the Fit&Beat ecosystem.
• Since its launch, Fit&Beat has already had over 40 global ambassadors, 8 million followers and eight solidified partnerships. 

“As the prevalence of inactive and obese populations continues to rise, our main goal is to incentivize individuals to live a healthier/active lifestyle by rewarding them for their workouts. We are developing the first Proof-of-Workout app, Fit&Beat Train2Earn App, paired with our own metaverse, FitBeatverse,”

co-founder and CEO of Fit&Beat, Mark Kalin comments. 

• The fresh round was led by the Bahamas-based digital asset investment firm, with operations in Paris and New York, GEM Digital Limited, focuses on the listed tokens, CEX and DEX sectors.
• The proceeds will allow Fit&Beat to further develop the state-of-the-art Move2Earn application, its own metaverse, and to expand into new markets and partnerships.