US wearable technology company Whoop is set to open its first overseas research lab in Doha later this year after securing $575 million in funding from a group of international investors led by Abu Dhabi and Qatar sovereign funds.
The Series G round, led by Abu Dhabi's sovereign fund Mubadala Investment Company, 2PointZero Group and the Qatar Investment Authority, values the Boston-based company at $10.1 billion, Whoop said in a statement on Tuesday.
Health tech company Abbott and investment firms Accomplice, B-Flexion, Bullhound Capital, Foundry, Glade Brook and IVP also participated in the financing deal.
Individual investors in the funding round include footballers Cristiano Ronaldo and Virgil van Dijk; NBA stars LeBron James and Reggie Miller; golfers Rory McIlroy and Shane Lowry; Irish singer Niall Horan and influencer Karen Wazen.
Focus on Gulf
Whoop said it will use the funding to boost its international expansion, focused on the Gulf, Asia, Europe and Latin America. Both the UAE and Qatar will be the focus of a series of initiatives being planned to boost adoption of wearable technology, the company said.
The Gulf, in particular, is a priority as the company plans to open Whoop Labs in the Qatari capital, which would be its first outside US headquarters in the US, underscoring the potential of the region's fast-expanding market.
The UAE “is quickly becoming one of the most advanced and integrated health ecosystems in the world”, said Will Ahmed, founder and chief executive of Whoop.
“We’ve seen extraordinary growth and engagement in the market and the UAE has become one of our most important countries globally,” he told The National.
“That momentum is now being accelerated through our partnerships with 2PointZero and Mubadala, both of whom share our long-term vision for advancing health, performance and human potential.”
Growing market
Wearable fitness trackers continue to maintain their popularity, with the sector's most notable names being Apple, Samsung, Huawei Technologies, Oura and Ultrahuman.
Advancements in technology have made fitness trackers – which include smartwatches, rings and bands – more capable of being a health companion and guiding users.
The global fitness tracker market is expected to be worth nearly $163 billion by 2030, nearly triple the estimated $61 billion in 2024, data from Grand View Research Shows.
Mr Ahmed described the Gulf as “one of the most forward-looking regions” when it comes to health, performance and longevity. About 94 per cent of respondents in the UAE and Saudi Arabia signified that they plan to be more health-conscious, a January study from Dubai-based GymNation showed.
“We’re building real momentum on the ground, expanding our local teams and growing our retail footprint in multiple markets,” Mr Ahmed said.
“We’re also developing meaningful partnerships across the region to integrate Whoop into broader health and performance ecosystems.”
Whoop was founded in 2012 and now has more than 2.5 million members globally, with bookings more than doubling year-on-year in 2025. The company operated on a positive cash flow and exited last year at a $1.1 billion run rate, it said.
Mubadala, which invests on behalf of the Abu Dhabi government and has about $330 billion worth of assets under management, is at the heart of the emirate’s efforts to diversify its revenue base and generate income from sources other than oil.
2PointZero, meanwhile, focuses on high-growth sectors including food security, advanced energy and renewables, with plans to capitalise on demographic shifts such as the expansion of the middle class in Asia and rising demand for consumer goods.
It reported a full-year net profit of Dh3.43 billion ($934 million) for 2025.
