Cubii tacks on VC funding after successful go-round on Kickstarter

Written by Sam Dewey
Published on Mar. 30, 2016
Cubii tacks on VC funding after successful go-round on Kickstarter

Today, one of Chicago’s most well-known Kickstarter success stories announced the close of a seed round of funding. After plowing through its initial $80,000 goal,

— an under-your-desk elliptical trainer that pairs with a connected mobile app — arrived at its crowdfunded end zone with an impressive $300,000 in backing.

That funding, however, was far from enough to keep up with the Kickstarter hit’s high demand, which is why Cubii today announced a $650,000 seed round of venture capital. The funding was penciled in by some of Chicago’s most notable and prolific investors, including Healthbox, Howard Tullman and Jai Shekhawat, among others.

“From the start of our goal-shattering $300,000 Kickstarter campaign, our objective was to eliminate the negative side effects of sedentary behavior,” said Arnav Dalmia, Cubii co-founder and CEO in a company statement. “We are receiving extremely positive reviews from our first customers, but our goal is to be more than a product. We want to be a customer-driven business that is built to last, and this funding will help us build on our successes as we expand our reach internationally.”

According to the statement, the money will be used “primarily to grow inventory to keep up with product demand, and for marketing and team growth.”

The product is the brainchild of and hopes to prevent looming health conditions associated with living a sedentary lifestyle (diseases like type 2 diabetes, heart disease, and breast and colon cancer, according to Mayo Clinic) by providing people who sit for hours on end at work with a way to incorporate a low-impact exercise while at their desks or in front of a TV.

And, as consumers continue to rely on real-time metrics fed to them from wearable tech and fitness trackers like Fitbit, Cubii’s connected app similarly allows iOS and Android users to meticulously track data like distance traveled and calories burned.

Image via FitnessCubed. 

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