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AI Fitness App Zing Coach Secures $10 Million To Revolutionise Healthy Living

by THEFUTURE.TEAM

June 25, 2024

In a bold move to address global inactivity, Zing Coach, a health tech startup supported by Palta, has secured $10 million in Series A funding. This round, led by Zubr Capital and Triple Point Capital, promises to bolster the app’s AI-driven fitness solutions, enhance its workforce, and facilitate international market expansion.

Zing Coach stands out with its hyper-personalised workouts, driven by sophisticated AI that adapts to users’ data and performance metrics. Unlike traditional fitness apps, Zing Coach utilises advanced fitness tests and body composition scanners, providing users with a highly accurate and personalised training experience.

This innovative approach has garnered significant user engagement, with over one million downloads since its 2021 launch. The app’s retention rates surpass those of its competitors, with users being 29% more likely to continue after the first day and 25% more likely to stick with it for a month or longer.

Zing Coach’s cutting-edge technology and strategic growth initiatives have attracted significant attention. Viktar Dzenisevich of Zubr Capital highlighted the transformative potential of AI in fitness, expressing confidence that Zing Coach will outpace competitors and achieve substantial growth.

CEO Tanya Parfenyuk envisions making healthy living accessible through affordable, high-quality digital coaching, a goal supported by the app’s continued innovation and expansion. Recent advancements include the Body Composition Scanner and AI-powered Flexibility Tests, further solidifying Zing Coach’s leadership in the digital fitness arena. With this latest funding, Zing Coach is poised to extend its reach and impact, leveraging AI to transform fitness habits and promote healthier lifestyles globally.

Honda And Nissan Aim For Merger By 2026 To Become Third-Largest Global Automaker

by THEFUTURE.TEAM

December 24, 2024

Honda and Nissan have officially entered merger talks with plans to create the world’s third-largest automaker by vehicle sales, following Toyota and Volkswagen. This historic move comes as the Japanese automakers face increasing competition from global players like Tesla and China’s BYD, particularly in the electric vehicle (EV) market.

Key Details Of The Merger:

Merger Goals: The new entity would have combined sales of 30 trillion yen ($191 billion) and an operating profit of over 3 trillion yen, making it a formidable force in the automotive industry. A holding company will be established, with both Honda and Nissan continuing to preserve their individual brands while benefiting from shared resources and synergies.
Board Composition: Honda, with a market capitalization approximately four times that of Nissan, will appoint the majority of the new company’s board members.
Timeline: The companies aim to finalize talks by June 2025, with plans to list the holding company shares in August 2026. The merger would involve the delisting of both companies from the stock exchange.
Mitsubishi Motors: Mitsubishi Motors, in which Nissan holds a significant stake, is also considering joining the new group, with a decision expected by January 2025.

Strategic Motivation Behind The Merger

The move is partly driven by the growing dominance of Chinese EV makers and the need for larger scale to compete in the rapidly evolving automotive landscape. Honda CEO Toshihiro Mibe emphasized that the merger is not a “rescue” for Nissan, but rather a strategic move for both companies to strengthen their competitiveness in the face of technological advancements such as electrification and autonomous driving.

Nissan has been struggling with financial difficulties, including a significant reduction in its global production capacity and the elimination of 9,000 jobs. The merger talks follow a restructuring plan designed to stabilize the company. Nissan’s CEO, Makoto Uchida, stressed that the merger discussions were not an indication of giving up on its restructuring efforts, but rather an essential step to ensure future growth.

Global Competition

The merger is seen as a necessary response to intense competition from EV giants like Tesla, as well as China’s BYD, which has become a dominant player in the electric vehicle market. As both Honda and Nissan work to secure their future in this highly competitive market, the potential collaboration could provide the scale and resources necessary to develop new technologies and accelerate the transition to electric vehicles.

While the talks are still in the early stages, the merger would be a significant reshaping of the global auto industry, reminiscent of the 2021 merger between Fiat Chrysler Automobiles and PSA Group to create Stellantis. If the merger proceeds, Honda and Nissan could not only regain competitiveness but also position themselves as key players in the future of mobility.