NURVV, the maker of the NURVV Run insoles and coaching app, has closed its first venture funding round, led by Hiro Capital, a leading European venture capital fund focused on innovators in games, esports and sports technology.
The US$9 million investment will be used to bring NURVV’s debut product, NURVV Run, to market globally. It will also help fund further research and development into its patented biomechanics sensor technologies and to support the founders, Jason and Ulrica Roberts, in achieving their aim of ‘helping 10 million runners improve their technique by 2025.’
Hiro Capital is led by Inspired Entertainment co-founder Luke Alvarez, Games Workshop co-founder Ian Livingstone CBE and Cherry Freeman, co-founder of LoveCrafts.
“Runners are in need of easy-to-understand guidance to help them improve their performance and technique, and with the investment and confidence of Hiro Capital, coupled with our in-house biomechanics expertise, NURVV will have the opportunity to define the wearable technology industry and improve how people run,” said Jason Roberts, founder and CEO of NURVV.
NURVV co-founder Ulrica Roberts added, “From the very beginning of this journey, we kept coming back to the same question: why is running measured from the wrist, when most of the important metrics happen at the feet?
“Driven by the idea we could revolutionize running by putting core biomechanical principles at the heart of our solution, we sought out the expertise to make it happen.”
NURVV Run was voted one of the top new products at CES 2020 by Wired, CNET, US Today, Gear Patrol and the CES judges.
Developed and tested over the past three years, NURVV Run ‘captures running from the point of action, analyzes data using biomechanical principles and then offers actionable insights on how to improve before, during and after each run, and real-time coaching.’
“Hiro is delighted to be investing in NURVV as our fund’s fourth deal and our first sports tech investment,” said Luke Alvarez, Managing Partner of Hiro Capital. “NURVV’s success comes from putting the athlete’s body at the heart of everything they do.
“Nurvv is based on fundamental patented sensor technologies combined with deep biomechanics and data science that have revolutionary potential across sports, gaming, VR/AR and wellness. Jason and Ulrica are extraordinary entrepreneurs and we are excited to be working with them and their team to take NURVV to the next level.”
NURVV Run is available for purchase for US$299.95 at BestBuy.com and NURVV.com, and will ship in Q1 2020. Each purchase includes two ultra thin, comfortable insoles, two lightweight GPS trackers and access to the free NURVV Run Coaching app on iTunes and Google Play Store.