The Axle Workout
Early Stage
Improve life expectancy with better body composition
Overview
Raised: $142,968
Total Commitments ($USD)
Platform
Republic
Start Date
12/01/2021
Close Date
04/30/2022
Min. Goal
$25,000
Max. Goal
$1,070,000
Min. Investment
$100
Security Type
SAFE
Series
Pre-Seed
SEC Filing Type
RegCF
Valuation Cap
$11,000,000
Discount
20%
Rolling Commitments ($USD)
Status
Funded
Reporting Date
05/01/2022
Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise
$953
# of Investors
114
Momentum
Funded
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Year Founded
2016
Industry
Fitness & Wellness
Tech Sector
HealthTech
Distribution Model
B2B/B2C
Margin
Medium
Capital Intensity
Low
The Axle Workout, with a valuation of $11 million, is raising funds on Republic. The company has developed a proprietary training tool that helps in body composition analysis and strength training. The flagship product of The Axle Workout, The Axle barbell, is a lightweight and collapsible barbell that makes home workouts easy and complete. The Axle Workout has generated $1.5 million in lifetime revenues as of November 2021 and reported a 2,000% quarter-over-quarter growth from the first quarter of 2019 to the first quarter of 2021. Andrew Page and Anuj Patel founded The Axle Workout in November 2016. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $1,070,000. The campaign proceeds will be used for marketing, B2B sales, and bringing new products to life.
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$680,196 |
$262,723 |
|
COGS |
$355,530 |
$117,797 |
|
Tax |
$0 |
$0 |
| ||
| ||
|
Net Income |
$-110,724 |
$-37,309 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$41,409 |
$21,343 |
|
Accounts Receivable |
$6,310 |
$0 |
|
Total Assets |
$569,863 |
$289,237 |
|
Short-Term Debt |
$112,876 |
$79,218 |
|
Long-Term Debt |
$515,259 |
$157,567 |
|
Total Liabilities |
$628,135 |
$236,785 |
Financials as of: 12/01/2021
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Founder Profile
The Axle Workout Co-founder Andrew Page on Data and Fitness
Although it’s easy to lump various competitive physical activities under the sports umbrella, the muscles emphasized in each discipline can vary. For example, while Olympic figure skaters need to build abdominal muscle, snowboarders depend on their arms and shoulders to soar down the slopes. Precise training can help athletes cultivate their bodies and enhance their performance.Designed for professional athletes and everyday gym enthusiasts alike, The Axle Workout uses a patent-pending Olympic barbell and a live and on-demand training app to help users meet their physical goals. Its second-generation smart barbell will monitor how much muscle and fat an athlete has in specific areas, allowing them to improve their workout routine. We reached out to co-founder Andrew Page to learn more about his family’s generational dedication to health and the future of the industry.
Note: This interview was conducted over phone and email. It has been lightly edited for clarity and length.
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