Whoop targets GCC after UAE and Qatar back $575m fundraising

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