Osake
Kierros on suljettu

Runteq – changes the way runners move

Runteq introduces the world's best app and wearable for recreational runners. The unique solution coaches all running lovers for higher enjoyment, better performance and prevention of injuries. Runteq makes better and joyful runners worldwide.

Tarinamme

The story of Runteq started in spring 2010 at a sport store in Tampere, Finland. After a gait analysis by a physiotherapist, the founder of the company realized that running technique has a great impact to running related injuries. But there were no personal monitors on the market to analyse it. It had to be done!

Runteq Ltd was founded in the turn of 2011/2012. The first product version was made available in spring 2013 for selected professionals like coaches and testing labs. We got great feedback from our customers (Elixia Tampere, Varala Sports Institute, TheRunningLab (UK) and Sport Surgery Clinic (IRL)).

Nevertheless, the recreational runners we met were really interested in the product. They encouraged us to start developing a full-blown solution for consumers. Our team introduced the details of the Zoi product in September 2014.

Liiketoiminta- & markkinatilanteemme

Market

Running is the purest and simplest form of exercise. The number of people who exercise by running is growing worldwide. We estimate there are about 30 million aspiring recreational runners in Europe and 20 million in the USA.

The trend of fitness technology (e.g. heart rate monitors, GPS wrist computers) growth is showing no signs of stopping. The fitness-minded are expected to be more concerned with how to interpret the information and use it to customize their workouts and achieve bigger and better results.

 

Business Opportunity

Even 80% of recreational runners get injured at least once a year. They like to train, but injuries force them to rest, which forces them to seek out information on how to prevent injury.

As humans, we want to set and break personal records. Simply, we want to run faster. To achieve this, it is important to stay healthy and to enhance running skills. The proper running form and technique is a skill and it can save up to 30% of energy and improve running times by 20%. That is often neglected part of training, even in the professional running coaching.

Runteq helps people to run smarter, faster and prevent injury by providing accurate information about running technique and giving evidence-based personal guidance for training.

 

Our Product and its status

Our key product is a running coach app combined with the smart wearable sensor. The product, Zoi®, is a wearable personal solution that monitors and analyses running technique continuously and gives feedback on running, both during the exercise and after it. Please read more about our product at our web page.

We are working on the final details of the iPhone app. The sensor product is ready for mass production immediately. We will start the production in Finland. The functional design and reliability electronics of the Zoi® sensor are the result of several careful design and testing rounds.

 

Revenue Model

Our revenues are coming from the sales of

  • smart wearable sensor units (Zoi®) and its accessories
  • in-app and out-app features of running app, one-time and subscription based pricing (through App Store and Google Play)
  • ads/promotion in the running app

In the beginning, our business focus is in running sports, but while our technology is on the market, we are going to investigate the business opportunities in other sports like skiing, skating, dancing, boxing and swimming.

 

Competition

Evaluation of running form/technique has typically been done by coaches (naked eye) or with video or slow motion camera. A personal coaching session takes typically 1-2 hours and costs 100+ euros.

During last year, the personal running monitoring market has seen new activity while several small and some bigger companies have introduced their own solutions for runners (Moov, Stryd, runScribe, Gaiteye, Sensoria, Stridalyzer, Kinematix, Garmin).

While most of the competitors are focusing on providing basic biomechanics information, Runteq refines the data to the form of meaningful and understandandable information and individualized training instructions.

Go-To-Market

We have an aggressive international sales plan. The first product shipments are scheduled to November for our pre-sales customers. Then, our own webshop will be opened too. The projected sales for the year 2016 is 20 000 devices.

We have signed the letters of intent with several reselling organizations in Europe. These resellers are now expecting us to provide them with product samples for evaluation and sales training purposes. We expect to start sales of Zoi in the beginning of the running season in February, at latest.

Tiimimme

Tiimimme

Executive Team

Our team has a solid background in developing products, mobile software and hardware.

Trusted design and hardware partners

We have teamed up with award-winning design Vesa Jääskö and Oulu-based electronics design company iProtoXi Oy.

Shareholders

Our current shareholders include almost 50 private Finnish persons and companies who have already joined to ramp-up the business and support its persistent and experienced team.

Board and Advisory Board

Runteq's Board members and advisors are seasoned professional 

Riku Granat, Chairman of the Board worked as Senior Vice President at Accenture and hold several VP positions in Nokia Corporation. Currently, Riku works in Varala Sports Institute as Chief Commercial Officer.

Jari Lamminen is the founder of Fysioline Ltd, Tampere-based growth company in fitness and wellness business.

Jari Pasanen has a long and extensive experience in top level management  and leadership positions in many companies (including Sitra, Nokia). He has served as an advisor to several companies from early stage startups to large private equity funds and been a board member in a number of publicly listed corporations and growth companies.

Extensive Expert Network

We collaborate with international experts in biomechanics, physiotherapy, sports medicine and running coaching . Our growing collaboration with Finnish running communities and competitive runners makes us to get instant views and feedback how to improve our wearable device and coaching apps.

Tommi Ojala

Chief Executive Officer, Innovator, Seasoned product manager

Tommi has over 20 year experience in advanced technology projects and ventures, ranging digital maps, navigation apps, graphics acceleration and homescreen app in smart devices. Tommi loves orienteering, recreational running and playing guitar. https://fi.linkedin.com/in/tommiojala

Juho Blankenstein

Chief Technology Officer, iOS Software Developer

Juho is software and signal processing professional that turns ideas to implementation in incredible fast. He masters algorithms, iOS and web programming.

Aku Virtanen

Software Developer, Zoi

Aku is a software developer who has long experience with embedded software products in various industries. Aku is the lead developer of Zoi device software. https://fi.linkedin.com/pub/aku-virtanen/14/852/321

Jari Hemmilä

Head Coach, Blogist

Jari is a running coach, author of running book, editor of Runner's World Finland (2002-2005), former competitive endurance runner, and the world champion of cross country running in his age-group. Jari has develop the training plans for Zoi product