London-based sports tech startup Muoverti recently passed another million-pound milestone in funding from investors, taking the total raised to more than £2.4 million.
Following the public unveiling of its pre-production prototype at London’s Rouleur Live event last November, the company said it saw a significant increase in interest from the media, consumers and potential investors, resulting in this latest injection of capital.
This builds on previous funding from private investors, taking the total amount raised by Muoverti to date to £2.4 million, including a convertible loan by the government’s FutureFund.
Christoph Wilfert, Muoverti CEO and co-founder, said: “Last month, we crossed the £2.4 million mark raised since inception, of which £1 million was raised in just three months after publicly presenting the project for the first time back in November last year.
“We’re now in the enviable position of having an incredible group of investors who are also networked and passionate cyclists, ready to support us in more ways than one. This puts us in a strong position to achieve upcoming product milestones, move closer towards production and recruit the talent that will bring TiltBikes to life.”
The TiltBike is aimed at athletes of all levels looking for engaging simulations and effective exercise, from essential training to e-sports and interactive gaming. According to the brand, it enables riders to balance and steer, accelerate and brake, and engage the whole body to simulate riding outdoors, indoors.
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As part of scaling up operations, Muoverti recently moved to new facilities in Wandsworth which will allow for further R&D and rider testing, as well as becoming home to the team.
Muoverti said plans a further investment round this May. The start-up was founded by entrepreneurs Christoph Wilfert and Alex Caccia, also the original founder of the WaterRower. Find out more at muoverti.com.