Slovenian start-up Fit&Beat secures $25mn investment from GEM Digital

Slovenian start-up Fit&Beat secures $25mn investment from GEM Digital
FitBeat says it encourages individuals to lead a healthy lifestyle through digital 3D content, artificial intelligence and other technologies. / David Mark via Pixabay
By bne IntelliNews October 5, 2022

Slovenian blockchain startup Fit&Beat said it secured an investment of $25mn from Bahamas-based digital asset investment firm GEM Digital Limited with funding aimed at developing the state-of-the-art Move2Earn application and its own metaverse.

“Fit&Beat is a unique sports solution that aims to radically transform the existing sports industry by using blockchain technology paired with virtual and augmented reality solutions to provide a next-level experience,” the company said in a statement.

Co-founder of Fit&Beat, Mark Kalin, said he is happy to have a strategic partner like GEM Digital.

"Together we can turn our plans into a reality,” he said

Kalin said that the company is challenging the status quo of an unhealthy population.

“As the prevalence of inactive and obese populations continues to rise, our main goal is to incentivize individuals to live a healthier and more 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,” Kalin underlined.

The Fit&Beat project was conceptualised back in 2018. With a mission to connect blockchain and an active lifestyle, the Fit&Beat team currently has over 40 global ambassadors, 8mn followers and eight solidified partnerships.

GEM Digital Limited actively sources, structures and invests in utility tokens.