*By Bridgette Webb*
Fitness start-up Naked Labs has raised $14 million in Series A funding to produce the market's first at-home body scanner.
The device includes a scale with sensors, a computer, and a stationary mirror to collect data on body fat, lean muscle mass, and circumferences. It can complete a body scan in 15 seconds and also tracks progress over time by offering side-by-side body comparisons.
The machine costs $1,395, a lofty sum for a fitness tracker. Though Naked Labs co-founders Ed Sclater and Farhad Farahbakhshian are betting that the high quality of the device will be worth it.
"It's a premium product with premium materials, and a lot of tech packed in," said Sclater in an interview Wednesday with Cheddar.
"This is a first-to-world product, we are creating a new category," added Farahbakhshian. "When LCD TV's first came out, they were $2,300."
Farahbakhshian said Naked Labs is very mindful of how much personal data users would be sharing.
"We made a deliberate decision early on that we are not going to own the data of the user, the data belongs to them," he said. "At any time they can delete their account and information and it's gone from our cloud servers."
Naked Labs' founders said the product will enable users to see the impact that diet, exercise, and other daily decisions have on their bodies.
For more on this story, [click here](https://cheddar.com/videos/naked-labs-raises-14m-for-home-3d-body-scanners).
The Federal Trade Commission ruled that Intuit engaged in deceptive practices by running ads claiming consumers could file their taxes for free using TurboTax — when many taxpayers did not qualify for such free offerings.
WWE’s weekly television show, “Raw,” will move to Netflix next year as part of a major streaming deal worth more than $5 billion. WWE, which is part of TKO Group Holdings Inc., said Tuesday that “Raw” will air on Netflix starting in January 2025.
Propublica national reporter Peter Elkind shares details on his investigation into how scammers stole over $1 billion using Walmart's gift cards and financial services, and how consumers can protect themselves.
Ed Siddell, CEO and Chief Investment Advisor at EGIS financial explains why election years tend to cause bull markets, the latest inflation data, and why he’s concerned about the ‘debt bubble.’
Archer Aviation founder and CEO Adam Goldstein shares big news about the aerospace company's new partnership with NASA and why they want to make your trip to the airport just five minutes long.
iFit CEO Kevin Duffy shares how the company is bringing artificial intelligence-powered workouts to consumers, plus other fitness trends to be on the lookout for in 2024.
