PNOE, based in Malden, Massachusetts, and Athens, Greece, will launch its PNOE 2.0 metabolic testing device on October 1. Unlike the previous version, the new model allows users to conduct tests independently in eight minutes. The hardware features a detachable electronic unit and a personal silicone mask, enabling multiple users to share the core device while maintaining hygiene.
The system measures 23 biomarkers, including VO2 max, resting metabolic rate, and metabolic flexibility. PNOE targets the wellness market rather than clinical diagnostics and is not FDA-cleared. The company currently sells its subscription-based 'business in a box' service to fitness centers, hotels, and sports organizations, including Equinox, Four Seasons, and the NBA.
Founded by Apostolos Atsalakis and Panos Papadiamantis, the startup has raised $22 million to date, including a recent $11 million round. Investors include 50 Years and Lars Rasmussen. With 110 employees, the company reports it has reached profitability and is growing at a rate of over 100% annually. A Series B funding round is planned within the next 6 to 12 months.
The company generates 85% of its revenue in the U.S. and is currently expanding into Europe, Latin America, and Asia. Subscription fees for business clients range from $400 to over $1,000 per month, covering hardware, software, and marketing support. The device is designed to provide data between the accuracy of clinical lab equipment and consumer wearables.
