Two UAE entities and one from Qatar participated in the latest $575 million funding round for Whoop, a US-based wearable technology company. Abu Dhabi-listed 2PointZeroTwo UAE entities and one from Qatar participated in the latest $575 million funding round for Whoop, a US-based wearable technology company. Abu Dhabi-listed 2PointZero
Whoop targets GCC after UAE and Qatar back $575m fundraising
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Two UAE entities and one from Qatar participated in the latest $575 million funding round for Whoop, a US-based wearable technology company.
Abu Dhabi-listed 2PointZero Group, UAE sovereign fund Mubadala Investment Company and state-owned Qatar Investment Authority (QIA) joined the Series G fundraising, which valued Whoop at $10 billion.
Mubadala confirmed its $75 million contribution to the funding round, but neither 2PointZero Group nor QIA disclosed any amount.
The round, led by US-based Collaborative Fund, included global participation from Abbott, Mayo Clinic, Macquarie Capital, Glade Brook, B-Flexion, IVP, Foundry, Accomplice, Affinity Partners, Promus Ventures and Bullhound Capital.
Well-known individual investors participating include Cristiano Ronaldo, LeBron James, Rory McIlroy, Reggie Miller, Niall Horan, Karen Wazen, Virgil van Dijk, Mathieu van der Poel and Shane Lowry, Whoop said in a statement.
The proceeds will drive US and international expansion across Europe, the GCC, Latin America and Asia, Whoop said.
Boston-headquartered Whoop was founded in 2012 and has raised more than $900 million in venture capital, ships to 56 countries and operates in six languages.
Further reading:
- Cash-rich 2PointZero Group targets global buyouts
- Mubadala offloads minority stake in nearly $5bn CoolIT deal
- Adia in investment talks with Bezos-led Project Prometheus
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