EP #471 - Harnessing Human Motion Analysis to Create a Digital Personal Coach
Jan 29, 2025
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Joel Roos and Ben Simon, co-founders of VAY, share insights on pioneering motion tracking technology that revolutionizes digital fitness coaching. They discuss their thrilling journey from a startup in Zurich to being acquired by Bowflex, delving into the challenges of share distribution and the pivot to a B2B model in healthcare. The duo emphasizes teamwork and mentorship, navigating the emotional highs and lows of the acquisition process, and how strategic partnerships facilitated their impressive growth in the competitive fitness tech landscape.
Joel and Ben's diverse backgrounds enabled them to innovate in motion tracking technology, enhancing fitness and rehabilitation experiences.
The evolution of VAY's focus from B2C to B2B showcased their adaptability and the importance of understanding market demands.
Post-acquisition insights highlighted the significance of community and mentorship in fostering future entrepreneurial success and innovation.
Deep dives
Inception of VAY and Founders' Meeting
The co-founders of VAY, Joel and Ben, met in Zurich while living in the same apartment building, united by their differing professional backgrounds. Joel, a former professional volleyball player passionate about fitness, was looking to start a project that could help others improve their workout techniques. Ben, feeling unfulfilled in his corporate tax job, saw an opportunity after a light-hearted conversation with Joel about joining him in a new venture. Their personal connection turned into a professional partnership that laid the foundation for developing advanced motion tracking technology aimed at fitness and physical therapy.
Early Development and Market Insights
In the early stages of VAY, the team worked on an innovative fitness app that aimed to provide deeper insights into workout performance. The concept evolved from a university project focused on smart clothing into utilizing sensors available on everyday devices like smartphones. Despite experiencing challenges, such as diverging visions among initial co-founders, the team’s determination led them to pivot their focus towards technology’s applications in both fitness and physiotherapy. This decision opened the door for potential collaborations with medical professionals and organizations, enhancing the product's credibility.
Navigating Challenges and Finding Product-Market Fit
As VAY sought to gain traction, the founders faced the formidable challenge of establishing a product-market fit while attempting to secure funding. They initially focused on a B2C model but realized understanding the competitive landscape was key, leading to a difficult pivot towards B2B opportunities. By exploring collaboration with health insurance companies, they uncovered a demand for their technology in preventive healthcare, which strengthened their position in the market. Despite setbacks, the team’s persistence paid off as recognition and potential clients began to emerge around 2020, particularly as consumer needs shifted dramatically during the COVID-19 pandemic.
Acquisition and Post-Merger Integration
VAY received an acquisition offer from Nautilus (now Bowflex) that surprised the founders, happening after their technology had begun generating interest in the market. The founders navigated complex negotiations and, driven by their technical expertise and the potential for collaboration, made the strategic decision to sell. While the integration into a larger organization brought new dynamics and challenges, it also offered the opportunity to advance their technology in the fitness sector. As the integration unfolded, the VAY team continued to push for innovative developments while upholding their unique company culture.
Lessons Learned and Future Aspirations
Following the exit, the co-founders reflected on their journey, sharing insights about entrepreneurship, resilience, and finding meaning after such a transformative experience. They recognized the importance of community, mentorship, and supporting emerging entrepreneurs in their local ecosystem, emphasizing the need for innovative funding avenues. As they transitioned into new roles, both Joel and Ben expressed their commitment to investing in startups and mentoring the next generation of entrepreneurs. Their shared experiences underscored the cyclical nature of the startup world, marked by peaks and valleys while reiterating the significance of timing and perseverance.
30:48 - Getting Alex Ilic as an advisor and investor
34:43 - Giving an advisor phantom stocks
38:20 - Getting acquired by BowFlex
About Joel Roos & Ben Simon:
Joel Roos and Ben Simon are the co-founders of VAY, a startup offering motion tracking technology for fitness and physical therapy. Joel holds a MSc in Robotics Systems and Control from ETH and worked at Rapyuta Robotics before co-founding VAY in 2018. Ben holds an MA in Accounting and Finance from HSG and worked for atfinity and EY before co-founding VAY with Joel.
VAY digitizes human movements through human motion analysis, to make products more competitive, immersive, and intelligent. They provide real-time tracking and audio feedback from any device and camera. Their target industry is physical therapy, rehabilitation, and digital health apps.
VAY was acquired by Nautilus (now called Bowflex) in 2021 for an undisclosed amount. Alex Ilic is one of their board advisors.
The cover portrait was edited by www.smartportrait.io
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