- MyFiziq has signed a binding term sheet with Fit Capital, a Hong Kong-based fitness company, to combine its MyFiziq platform into the Stryde Fitness app
- Stryde is a multi-dimensional training platform focused on helping its subscribers set and achieve their fitness goals
- The integration will see Stryde’s users track their progress using MyFiziq’s technology as they follow Stryde’s coaching, fitness and nutritional programs
- This is an important step for MyFiziq expanding its reach into Asia
- Despite the news, company shares are down slightly by 1.67 per cent, with shares trading for 29.5 cents each
MyFiziq has signed a binding term sheet with Fit Capital, a Hong Kong-based fitness company, to integrate its MyFiziq platform into the Stryde Fitness app.
Stryde is a multi-dimensional training platform that is focused on assisting its subscribers with setting fitness goals.
It does so using a goal setting algorithm and attaining those goals through P2P fitness goal betting through an in-app currency called “donuts.” Users can then spend their donuts to earn fitness products as prizes.
Fit Capital and MyFiziq will collaborate to combine MyFiziq’s revolutionary body tracking application into Stryde.
Stryde’s users will be able to track their progress using MyFiziq’s technology as they follow Stryde’s coaching, fitness and nutritional programs.
MyFiziq CEO Vlado Bosanac is pleased to be expanding the company’s reach into Asia.
“Having the opportunity to work with the Fit Capital team, along with their incredible knowledge and background, is further validation of our technology,” Vlado said.
“The founders are deeply entrenched in fitness and are a strong reflection of their product and programmes. Fit Capital is working with some of the biggest names in the Asian fitness market,” he added.
Fit Capital was founded by Leon Lee, the former head of product at a Hong Kong science park incubated company, and Alex Chung, a marketing, PR professional and personal trainer.
The co-founders shared a vision to create a platform for users to feel and be accountable for their goals.
Leon Lee and Alex Chung believe this is a strategic move for Stryde.
“Many applications suggest they can do what MyFiziq has accomplished, yet, when put to task, we haven’t found anything with the mobility, accuracy, or functionality that the MyFiziq technology offers,” Fit Capital founders Leon and Alex said.
Despite the news, MyFiziq’s shares are down slightly by 1.67 per cent, with shares trading for 29.5 cents each at 3:01 pm AEDT.