The company is combining wearables, an app, AI and human coaching to help users lose weight.
Limbo, a new start-up aiming to help people lose weight using tech, has raised $6m in seed funding from some big name backers to expand its service in Ireland and the UK.
The funding round was led by Hoxton Ventures, known for investments in companies such as Deliveroo and Darktrace.
There was also investment from former basketball star Shaquille O’Neal, Seedcamp, Apple executive Rory Sexton, former Irish rugby player Jamie Heaslip and the co-founders of companies such as Intercom, PCH International, Yelp, Voxpro and Web Summit.
Headquartered in New York and with a research centre in Cork, Limbo said it coaches users into healthier habits to help lose weight.
It was founded by Irish entrepreneur Pat Phelan, who is chair of the company, physiologist Tony Martin, who is chief research officer, and tech leader Rurik Bradbury, who is CEO.
The start-up uses real-time biodata from wearables, combined with an app, AI and human coaching to create an individualised approach.
It has been running private early access for the past year, and claims users have seen an average body weight reduction of 12pc within three months.
With the fresh funding, it is now planning to open up its service further in Ireland and the UK.
“We are ready to empower people around the world to take control of their health and weight with an ease and effectiveness they never imagined possible,” said Phelan.
Cork man and serial entrepreneur Phelan has become known for founding several companies over the years.
He grew and sold global connectivity platform Cubic Telecom, before going on to co-found and lead digital verification firm Trustev, which was acquired by TransUnion in 2015 for $44m. After this, he started cosmetic beauty chain Sisu.
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