Did you know that Minnesota is home to over a dozen tech companies playing in the wide world of sports?
When was your company founded and what phase would you say you’re in?
We were founded in September of 2010. We have prototypes that are being tested at many training facilities with very positive feedback on the technology. Now we are in the commercialization phase as we are raising money to complete our consumer-ready product.
How many employees do you have? Have you previously raised outside investor capital?
Two of our owners work full time and we have not yet raised any outside capital.
How do you make money?
Our business model is to make money by selling our Moxy Sensors directly to consumers through our website. As that takes off, we’ll follow that up with sales through affiliate companies. Our focus will be only on the sensor. There are lots of other supporting technologies such as GPS wristwatches for data display and websites for data analysis that are already in place. The sports industry has some nice standards like ANT+ and .FIT that allow us to use that existing infrastructure without having to invent it ourselves.
What are your core technology products/services?
Our core technology is Near Infrared Spectroscopy. This allows us to measure oxygen levels in muscle using only light. Our secret sauce is in our ability to make accurate devices that are affordable for individual athletes.
What sports, markets, or audiences do you serve?
Eventually, we expect Moxy to be used very broadly across all sports and a wide range of experience levels. We are going to target triathletes at first because they are very serious about training for their sport and they can benefit the most from training more effectively by using Moxy.
How does your company and technology enhance or advance the sport(s)?
Moxy provides real time information about the metabolic state of the muscle and it can be used anywhere, even underwater. Previously, this information could only be estimated with lab equipment such as a metabolic cart or a blood lactate meter. Athlete use muscle oxygen information to more precisely guide their training intensity and to monitor the improvements in their muscle oxidative capacity.
How do you see technology changing the game in 5 – 10 years out?
5-10 years out, muscle oxygen monitoring will become a mainstream monitoring parameter. Athletes will become as familiar with it as they are now with heart rate, power, and VO2max. Five years out, athletes that learn how to use muscle oxygen monitoring will have a strategic advantage over those that haven’t because they will be able to get more performance improvement with less time spent training. 10 years out, muscle oxygen monitoring will move from a tool for the elites to a tool that any serious athlete will use.
Is there anything else that you would like to add?
We’re starting some research efforts with several training facilities and the Mayo Clinic to help us establish training guidance for how to make the best use of this previously unavailable metric. We’re currently seeking funding to help us support this research and to get our product on the market.