group "2 Point Zero" Invest in a company "WHOOP"
ABU DHABI, 31st March / WAM / 2Point Zero Group today announced its investment in a Series G financing round of preferred shares of WHOOP (WHOOP), one of the platforms specialized in the field of consumer health and wellness technologies.
The round was led by the Collaborative Fund, with participation from the 2Point Zero Group, along with other investors.
Founded in 2012 and headquartered in Boston, Whoop has established itself as a preferred platform for individuals interested in health, athletes, and corporate wellness programs around the world. The company’s model is based on subscription, providing continuous monitoring of health indicators, providing personalized guidance, and practical, applicable indicators to enhance fitness, through a global network of users that extends to more than 200 countries and regions.
Through this investment, 2 Point Zero Group strengthens its presence in consumer-focused sectors by adding a technology platform in the field of wellness that is characterized by achieving high growth rates, in line with the trends of the wellness sector within the group’s portfolio. This is also consistent with 2 Point Zero’s strategy to invest in strong companies that have well-established brands, generate recurring revenues, and have promising growth potential.
Samia Bouazza, CEO of 2 Point Zero Group, said: “We are keen to invest capital in opportunities that have the potential for growth, strong foundations and scalability. We believe that WHOOP has succeeded in consolidating its competitive position in a field that combines technology, health and data, and offers a distinguished platform within its category, with strong operational foundations, high user interaction, and operating based on a clear approach to achieving profits on a larger scale.”
She added: “This investment reflects the importance of health technologies directed to consumers as one of the most prominent areas of growth in the long term. Expectations indicate that the global wearable devices market will grow at an exceptional pace annually, reaching about $300 billion by 2032. This trend embodies our keenness to support companies and distinguished management teams to accelerate the pace of growth in conjunction with enhancing value for shareholders in the long term.”
For his part, Will Ahmed, founder and CEO of Whoop, said: “We are proud of our partnership with the 2 Point Zero Group, which comes at the beginning of a new phase of global growth for WHOOP, and since we entered the UAE market in 2017 through our first partnership with Expo 2020 Dubai, the UAE has today become one of our most prominent international markets.”
He added: “This strategic investment will contribute to our growth in the UAE and globally, as we continue to lead the way in redefining how people understand their health and improve their daily performance.”
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