Interactive Strength (TRNR) Announces $500M Strategic Funding to Acquire FET Tokens

Nasdaq-listed Interactive Strength (TRNR) has announced a $500 million strategic funding facility to acquire FET tokens

Nasdaq-listed Interactive Strength (TRNR) is planning to acquire $500 million worth of FET tokens, the native asset of leading AI blockchain platform Fetch.ai, according to a press release on Thursday (August 10).

The company will be making the acquisition through a strategic funding facility. An initial $55 million tranche is being co-led by private equity firm ATW Partners and major Web3 investor DWF Labs.

This move will position TRNR as the largest U.S. public company holding an AI-linked crypto treasury. It also comes as several companies have announced crypto treasury strategies in recent months.

The move also ties into TRNR’s broader focus on artificial intelligence and digital fitness. The entire $500 million will be used exclusively for acquiring FET tokens, which will be held in a BitGo wallet. BitGo is a regulated, institutional-grade crypto custodian.

“We are focused on investing in the future of finance and technology,” said Trent Ward, CEO of TRNR. “As crypto assets become a core component of global financial infrastructure, we see AI as the most significant technological leap of our generation.”

“Fetch.ai is the market leader at the intersection of these two megatrends. We believe this strategic initiative will generate significant long-term value for TRNR shareholders.”

Earlier this year, TRNR announced plans to pivot its business to focus on fitness technology. The company recently acquired CLMBR, a company known for its vertical climber machines, and FORME, a provider of smart home gym solutions.

In addition to the massive financial investment, TRNR will be collaborating directly with Fetch.ai to integrate AI-powered tools into its fitness ecosystem. These include the CLMBR and FORME product lines.

Fetch.ai’s agent-based AI technology will be used to create next-generation personalized training experiences. It will also leverage decentralized large language models (LLMs) and autonomous agents.

“The Fetch.ai ecosystem is designed for the real-time collaboration of AI agents, unlocking truly powerful use cases from fitness to finance,” said Humayun Sheikh, CEO of Fetch.ai. “We are excited to work closely with the TRNR team to build the future of fitness, powered by Fetch.ai’s industry-leading AI technology.”

The initial $55 million tranche is also being co-led by private equity firm ATW Partners and major Web3 investor DWF Labs.

“We are incredibly proud to be supporting this initiative,” said Andrei Grachev, Managing Partner at DWF Labs. “This signals a new wave of corporate capital markets as we see a convergence of AI and digital assets.”

With this initiative, TRNR joins a growing group of public companies adopting crypto as a strategic treasury asset. Earlier this year, several companies announced crypto treasury strategies with assets like XRP and Solana. However, TRNR’s approach is distinguished by its AI-specific focus.

TRNR is a Nasdaq-listed fitness tech company expanding through acquisitions. It is also planning to change its name to Strength Tech Union, Inc. to reflect its new focus. Fetch.ai is a Delaware-based AI infrastructure company and a founding member of the Artificial Superintelligence Alliance (ASI). Its FET token ranks among the top five AI cryptocurrencies by market capitalization.