HispanicBusiness

Retrofit LLC, A Chicago-based startup that uses wireless technology and video conferencing to help clients lose weight, has raised $2.7 million in financing from investors lead by I2A Fund.

The company raised $2 million from heavy-hitting Chicago investors including New World Ventures, FireStarter Fund and I2A. The funding round also includes $700,000 invested late last year.

Investors include such Chicago heavy hitters as New World Ventures, the venture capital fund headed by J.B. Pritzker, and FireStarter Fund, which was launched last month by Matt Moog, chief executive of Chicago-based Viewpoints Network. It is a $5.7M fund compiled from contributions from more than 40 local CEOs and founders of digital technology companies.

I2A Fund is a $10 million Chicago-based early-stage investment fund that most recently funded Tap.Me, a local startup whose technology platform lets brands advertise within mobile games. FireStarter Fund also invested in Tap.Me's latest round.

A string of 21 private investors contributed to RetroFit's round, including Levy Restaurants chief Larry Levy and Apex Venture Partners' Lon Chow.

Under Retrofit's program, clients spend 12 months following a personalized nutrition and fitness plan, as well as attending weekly video-conference meetings via Skype with a team of registered dieticians, behavior coaches and exercise physiologists.

The program uses wireless devices to track clients' weight, body composition, physical activity and sleep patterns from home. The gadgets are the FitBit, a small device that clips onto a waistband or pocket, and an Internet-connected scale from French manufacturer Withings.

"It is an optimal solution for busy people whose schedules and responsibilities have made achieving healthy weight levels so challenging," said Retrofit CEO Jeff Hyman.