Press Release: Jan Frodeno among new investors joining THEMAGIC5
THEMAGIC5 is excited to share new details about champion triathlete Jan Frodeno's partnership with THEMAGIC5.
In August, Frodeno, a 3 x Ironman® World Champion (KONA) 2019, 2016 and 2015 and 2008, and Olympic gold medalist, signed with THEMAGIC5, lending his endorsement as a brand ambassador as part of a multi-year partnership. Today, Wednesday Oct. 14, THEMAGIC5 announces new details of the deal that reveal Frodeno as far more than just a celebrity endorser.
Rather than a traditional endorsement deal, Frodeno, who has a keen interest in the tech startup space, opted to invest in THEMAGIC5. As one of two new high-profile strategic investors to join THEMAGIC5's cap table in the past two months, along with a prominent female technologist—an enthusiastic swimmer who also fell in love with her goggle experience, the world #1 triathlete will add valuable perspective and influence as the brand moves to grow it's European business on the back of a steady uptick in EU sales.
"The-game changing nature of this technology cannot be ignored," Frodeno said of THEMAGIC5's proprietary custom fitting and manufacturing technology. "To have high-quality individualized product like this, you can't compare it with something else. You would expect it to be a complicated process or exclusive, but they've made the facial scan so intuitive via the app and the product ships around the world. On the back end, the machine learning technology only gets smarter and more accurate over time—it's fascinating. The market is there, and the business is so scaleable."
"The team is proud and excited to have Jan joining our team as an investor," said THEMAGIC5 co-founder Bo Haaber. "We have already started to work closely with Jan on our swimming goggle product in terms of both product development and also our expansion plans in Europe. At our current growth rate, we expect to open a production facility in Europe in the first half of 2021. Additionally, our team is working intensively on the next evolution of our fitting technology—developing a fitting technology platform that can be applied across product categories, with an initial focus on products for the face, e.g. personal protective equipment (PPE). Jan's experience, influence, and vision make him a great catalyst for THEMAGIC5's growth, and a valuable partner."
Wore my Magic5 fort the first time at my swimming club today. Sevenoaks swimming club. My coach thought they looked very futuristic but no-one would believe thy were bespoke. They were comfortable and fit very well. David