The long, white, mechanical arms and sleek grey bed suggests a futuristic dentist’s office — but the Aescape robot is designed to deliver a more relaxing experience. The unusual machine, now slated to be installed in 60 Equinox gym locations, is actually an artificial intelligence-powered robot that administers massages.
The robot is the product of a New York-based startup called Aescape Inc. On Tuesday the company plans to announce that it raised $83 million in a new funding round led by Valor Equity Partners, in addition to its expanded partnership with Equinox. Other investors participating in the deal include NBA All-Star Kevin Love and Alumni Ventures.
The company is currently valued at about $250 million, according to a person familiar with the matter who asked not to be identified discussing private information. Aescape declined to comment on its valuation.
The eight-year-old startup said it will use the funding bring its machines to wellness hotspots like those operated by the Four Seasons Hotels Ltd. and Marriott International Inc. It also aims to expand geographically and enter new markets including physical therapy, medical applications and professional sports.
“We think we’ve hit the sweet spot,” said Aescape founder and Chief Executive Officer Eric Litman. The company currently has 40 robot massage tables now in the market and expects to ship an additional 400 this year.
Investors have shown a keen appetite for AI technology that can make existing businesses more efficient, and have backed several humanoid robotics startups, mostly to help with warehouse work. But an AI robot used for massage is still a novel prospect.
A session with Aescape’s massage machine starts by donning the startup’s specialized clothing — stretchy workout gear made of slick material — which allows cameras to build a 3-D model of the subject’s body. Lying face down on a cushioned table, the massage recipient positions their face above a floating LCD screen featuring controls for the mechanical arms. It also displays an image of the user’s body on the screen, and a readout of where the arms will apply warm pressure.
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The overall effect is pretty good, based on this reporter’s experience. (However, navigating a touchscreen during a massage is not always feasible if you need to remove prescription glasses to lie down.)
The service can be booked on Aescape’s app, and costs $60 for 30 minutes. Since installing seven tables at select Equinox gyms in August, the startup says it has booked $23 million in revenue.
“This is really a glimmer of what is possible,” Litman said.
Litman decided to launch Aescape after suffering from chronic neck pain for two years. A tech entrepreneur who previously founded and sold mobile analytics startup Medialets to British advertising agency WPP Plc, Litman said he’s been able to recruit tech veterans from companies like Amazon.com Inc., Uber Technologies Inc. and Apple Inc. for his latest venture.
So far, because of the sensitivities around the neck and legs, the company’s machines can only administer a massage from the shoulders to the knees — but more is coming. During an interview last week, Litman described how the company’s Slack channel had lit up that day with celebratory calf emojis. “We just finished all the work for calves today,” he said. “People are pretty excited.”