JAY-Z invests in fitness startup company CLMBR
JAY-Z has invested in the climbing machine company ahead of the launch of their two newest machines.
JAY-Z has ventured into the world of fitness with his latest business dealing. The Brooklyn rapper has invested in CLMBR, a climbing machine start-up company.
CLMBR machines feature “a large-format touch display with on-demand, instructor-led classes” and “an integrated audio system that can fill an entire room with sound, enhancing excitement for the user.” The equipment — which have less impact than other cardio machines — are said to be used often by individuals with joint issues. The company is getting ready to launch two new machines and have now secured financial support from JAY-Z as well as tennis player Novak Djokovic.
“We are excited to work with JAY-Z and Novak to bring the best modality in fitness to consumers,” said CLMBR CEO Avrum Elmakis. “Unlike bikes, treadmills and rowers, CLMBR has less impact on the joints while providing the most efficient calorie burn per minute of any machine in the marketplace. CLMBR disrupts the way that people work out and offers something new in a segment that has not seen a lot of meaningful innovation, and I’m excited to share the machine with consumers around the world as we become the leader in the connected fitness market.”
JAY-Z and Djokovic join the likes of private equity firm KBW-Ventures, the Carters’ personal fitness consultant Marco Borges and YouTube co-founder Chad Hurley as key members of CLMBR’s investment team.
JAY-Z’s investment in the fitness space comes days after his wife, Beyoncé, announced her partnership with fitness company Peloton. As part of her new deal, the Black is King star has curated homecoming-themed workouts that will be accessible to members via Peloton’s exercise equipment and mobile app. The star will gift students from select HBCUs with two-year digital memberships. Beyoncé also recently launched two different collections for her Ivy Park activewear brand.
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