At first glance, the newest device from health-tech startup PNOĒ looks straight out of a Hollywood blockbuster. The mask, covering the nose and mouth and strapped securely around the back of the head, bears more than a passing resemblance to the facial gear worn by Bane, Batman’s hulking, venom-pumped nemesis. Yet, despite its intimidating cinematic aesthetic, its purpose is entirely benign. The device measures oxygen consumption and carbon dioxide exhalation, transforming raw respiratory data into actionable insights on how to eat, train, and, ideally, live a longer, healthier life.
Headquartered in Malden, Massachusetts, with extensive operations in Athens, Greece, PNOĒ is preparing for the official commercial launch of its flagship device, the PNOĒ 2.0, on October 1. The most significant advancement over its predecessor is user autonomy: individuals can now administer the clinical-grade metabolic test entirely by themselves.
According to co-founder and CEO Apostolos Atsalakis, a user can walk into a partner gym, put on the mask, press a button, sit down, and breathe normally for eight minutes. "That’s it. It’s that easy," Atsalakis explained during a recent video call from the company’s Athens offices.
This self-administered approach solves a major logistical bottleneck. The previous iteration of the PNOĒ device required a trained operator to oversee the test, inherently restricting where the equipment could be deployed. By removing the need for specialized staff, the self-serve PNOĒ 2.0 opens the floodgates for widespread adoption across unattended fitness centers, boutique wellness studios, and even local pharmacies.
The Chronology: From Cambridge Labs to Global Longevity
The journey of PNOĒ spans over a decade of scientific research, hardware iterations, and strategic market positioning.
- The Academic Roots (Mid-2010s): The foundation of PNOĒ traces back to CEO Apostolos Atsalakis’s PhD research in sensing technologies at the University of Cambridge. During a period when consumer wearables were beginning to explode in popularity, Atsalakis became fascinated by the hidden biometric data contained within human breath.
- Company Inception (2014–2018): Atsalakis co-founded the company alongside his childhood friend, Panos Papadiamantis, who now serves as the chief product officer. Together, they laid the groundwork for translating bulky laboratory science into a portable consumer wellness format.
- Y Combinator and Early Funding (2019): PNOĒ participated in Y Combinator’s Winter 2019 batch. At the time, "longevity" as a mainstream wellness industry barely existed in its current form. However, the startup managed to secure early believers.
- Scaling and Investment Rounds: To date, PNOĒ has raised roughly $22 million in venture capital. This includes a recently closed $11 million funding round backed by prominent investors such as 50 Years and Google Maps co-founder Lars Rasmussen, who is currently based in Athens.
- The Hardware Breakthrough (2024): Collaborating with the Milan-based Design Group Italia, the company went through "a lot, a lot, a lot of iterations" to design the PNOĒ 2.0. Because a self-administered metabolic testing device of this caliber had never been built before, engineering a reliable, simplified, and hygienic product required a complete redesign from the ground up.
- October 1, 2024: The official launch date for the PNOĒ 2.0, aiming to double down on the company’s hyper-growth phase.
Supporting Data: Unlocking the Power of Biomarkers and VO₂ Max
While the hardware packaging is novel, the underlying science behind PNOĒ is well-established. Metabolic testing—which analyzes the gases in a person’s breath to evaluate how the body converts food and oxygen into cellular energy—has been utilized in clinical settings for over a century.
For decades, this process has served as the undisputed gold standard for measuring VO₂ max: the maximum volume of oxygen an individual can consume during intense physical exertion. Widely recognized by physiologists as the single best metric of overall cardiorespiratory fitness, VO₂ max has rapidly become a cultural buzzword among modern longevity enthusiasts. Research consistently links higher cardiorespiratory fitness levels directly to lower all-cause mortality.
However, traditional metabolic assessments required bulky, expensive laboratory equipment—known as metabolic carts—found almost exclusively in elite sports science labs, university departments, and specialized hospitals. Consequently, these insights were historically reserved for elite Olympic athletes and corporate executives participating in high-end wellness programs.
PNOĒ’s core value proposition is delivering laboratory-grade accuracy within a portable package, paired with an intelligent software ecosystem that instantly translates raw gas metrics into personalized lifestyle recommendations.
The 23 Biomarkers of Human Performance
According to the company, a single PNOĒ test captures 23 distinct physiological biomarkers. These include:
- VO₂ Max: Assessing aerobic endurance and cardiovascular health ceiling.
- Resting Metabolic Rate (RMR): Determining the exact caloric baseline the body burns at rest.
- Metabolic Flexibility: Measuring how efficiently the body transitions between burning fats and carbohydrates for fuel.
Atsalakis argues that these advanced metrics provide concrete answers that standard blood tests simply cannot touch—such as precisely calculating daily caloric needs or tailoring athletic training zones for maximum efficiency.
Official Responses and Strategic Positioning
As PNOĒ positions itself at the intersection of consumer fitness and clinical science, leadership is exceptionally careful regarding regulatory boundaries and medical claims.
Presently, the PNOĒ device does not possess U.S. Food and Drug Administration (FDA) clearance, and Atsalakis is transparent about the company’s current scope: "We do not provide medical recommendations."
Instead, the company firmly categorizes its technology as a wellness product. "It’s like a body composition device, like a scale," Atsalakis notes. "A doctor cannot prescribe medication based on our results."
Despite these regulatory boundaries, the company has ambitious long-term horizons. Researchers across the globe have long investigated whether specific volatile organic compounds in human breath could serve as early warning signals for diseases such as cancer. Atsalakis acknowledges that the company’s rapidly expanding database of respiratory telemetry could eventually aid in flagging underlying health issues. However, he is quick to temper expectations, noting that full clinical diagnoses are "definitely a couple of years away," with stringent regulatory approval pathways likely stretching that timeline even further.
Post-Pandemic Hygiene and Hardware Sharing
A crucial consideration for any shared facial hardware in a post-COVID-19 landscape is hygiene. PNOĒ solved this challenge through a modular design. The sensitive electronic sensors detach entirely from the medical-grade silicone mask and head straps.
This clever engineering allows multiple gym members to share the expensive internal hardware safely, while individual users retain ownership of their personal, low-cost silicone mask attachments.
B2B Business Model: "Business in a Box"
Rather than selling directly to individual consumers online, PNOĒ operates strictly on a Business-to-Business (B2B) model. Gyms, wellness centers, and corporate clients purchase a monthly subscription ranging from $400 to over $1,000.
This subscription model functions as a comprehensive "business in a box," bundling the hardware, proprietary software, staff training programs, and localized marketing materials. Furthermore, PNOĒ’s software integrates directly with the commercial offerings of its clients. For instance, if a user’s test reveals poor metabolic flexibility, the host gym or medical spa can automatically recommend specific high-intensity interval training (HIIT) classes or nutritional protocols based directly on the diagnostic output.
PNOĒ’s impressive roster of commercial clients reflects its broad market appeal. The test is currently deployed at:
- Equinox (active in nearly all domestic clubs)
- Four Seasons Hotels and Resorts
- Red Bull athletic facilities
- The National Basketball Association (NBA)
- The Mount Sinai Health System
- Restore Hyper Wellness (a major national med-spa chain)
Geographically, the United States accounts for roughly 85% of PNOĒ’s total revenue. Atsalakis describes the American market as "by far the most advanced market globally" for longevity-focused consumers. Following its domestic success, the company is actively expanding its footprint across Europe and entering Latin American and Asian markets via strategic distribution partners.
Market Implications: Navigating the Crowded Wellness Landscape
PNOĒ enters a rapidly crowded market segment. The space between casual fitness tracking and deep clinical diagnostics is filling up fast.
At the consumer end of the spectrum, mainstream wearables like Apple Watch, Garmin sports watches, and Whoop straps constantly estimate VO₂ max metrics using continuous heart-rate variability and accelerometer data. Meanwhile, specialized consumer gadgets like Lumen analyze breath samples to give daily snapshots of fat versus carbohydrate oxidation. At the upper tier, traditional hospital metabolic carts still dominate clinical research environments.
PNOĒ carves out a vital middle ground. Many commercial clients utilize the metabolic test during customer onboarding, positioning the experience somewhere between a comprehensive clinical workup and the generalized wellness estimates provided by smartwatches.
Financial Health and Future Outlook
The company’s growth trajectory suggests strong market validation. Employing a global team of 110 people, PNOĒ recently reached overall profitability while maintaining an annual revenue growth rate exceeding 100%.
Looking ahead, Atsalakis revealed plans to initiate a Series B funding round within the next six to twelve months. The capital infusion will fuel further global expansion and accelerate marketing efforts aimed at placing the distinctive, Bane-esque mask in front of as many faces as possible.
By stripping away the complexity of traditional metabolic testing and packaging it into an accessible, self-administered format, PNOĒ is successfully bridging the gap between elite athletic science and everyday wellness—proving that the answers to our health, fitness, and longevity might have been right under our noses all along.
rifanmuazin
Nana Muazin
