Kuwait-based start-up raises $1.1-mn seed funding


July 20, 2020 | By RetailME Bureau

Kuwait-based digital fitness start-up, HOT Technologies has successfully closed a $1.1 million seed funding round from strategic regional angel investors. HOT Technologies will use the funds to further develop its product offerings to provide people an addicting take on fitness by leveraging the latest technology and by onboarding top coaches across the Middle East.

Also read: lululemon to buy in-home fitness brand MIRROR

HOT Technologies is a subscription-based fitness application that makes fitness accessible and rewarding by putting exceptional workouts that can be accessed anytime and anywhere. It includes thousands of hours of curated and localised fitness content. For instance, they host a daily schedule of live classes that cater to different levels and goals.

“We can’t wait to show our region, as well as the world how the HOT app can make fitness fun, social and empower us all to lead a healthier lifestyle,” said serial entrepreneur, Nezar Al Saleh – founder & CEO, HOT Technologies. “We’re blessed to have had believers in our vision and team from the start. The current climate did not really impact our fundraising efforts. We were blessed to be oversubscribed and had to align with investors that had the most value add.”

HOT Technologies aspires to ultimately become the solution to motivate people in the MENA region and beyond to lead a healthy and happier lifestyle.

“COVID-19 has helped shed light on the value of training regularly at your own time and place. Without tech-enabled solutions such as HOT, quarantine would have been harder than it was on many people. During this period, we experienced unprecedented growth, and are happy to have most of these users continue living a healthy lifestyle,” Al Saleh concluded.

 

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