What ICAROS does

ICAROS GmbH is a Munich-based (Martinsried) hardware-software company, founded in 2015 by Michael Schmidt, that develops integrated training systems combining unstable-surface mechanical platforms with VR-driven gamified exergames controlled via a unified smartphone/tablet application. The product portfolio spans five hardware devices — I.S.T. Board (€750, foot-controlled), ICAROS Cloud (from €1,400, consumer/SMB full-body), ICAROS Guardian (from €14,900, safety-railed balance training), ICAROS Health (from €24,900, Class I medical device for neuro/orthopedic rehabilitation), and the ICAROS Circle bundle (€49,900, the complete four-device system) — all running on the ICAROS App, which delivers VR content (EVOLVE, EXPLORE, DEEP, GRAVITY, FLIGHT, AIM, DOLOMITEN, BERCHTESGADEN, ENGADIN) and the ICARACE global multiplayer esports platform (€116/year subscription).

Revenue is generated through three streams: (1) one-time capital sales of hardware to clinics, rehab centers, fitness studios, hotels, sports resorts and elite athletic facilities, with pricing from €750 to €49,900; (2) 60-month leasing arrangements (with ~20% residual) that lower the entry barrier for capital-constrained buyers; and (3) a recurring ICARACE subscription plus e-commerce direct-to-consumer sales via shop.icaros.com. The go-to-market is consultation-led enterprise field sales run by CSO Julian Reich, supplemented by DACH trade show presence (therapie München, Wels integra), a Munich showroom, and self-serve online purchase for lower-priced devices.

Customers span rehabilitation clinics (MEDICLIN Fachklinik Rhein Ruhr, University Hospital of Cologne), professional sports (Peterka Arena, NHL pro JJ Peterka), neurodivergent-support facilities (SIRICA Center, California Bay Area), and hospitality/wellness venues (Sonne Mellau, Sportresort Hohe Salve). Leadership transitioned in 2024 from founder Michael Schmidt to CEO Johannes Scholl, with no disclosed institutional funding, parent company, or subsidiaries — the company appears to be founder-controlled and bootstrapped.

Name

ICAROS

Legal name

ICAROS GmbH

Website

https://icaros.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

11–50 employees

Short description

ICAROS GmbH is a Munich-based hardware-software company developing VR-integrated unstable-surface training systems for medical rehabilitation clinics, fitness studios, professional sports facilities, and consumer home use, sold via enterprise field sales, leasing, and e-commerce.

Ownership category

akta.pro rank

Product category

VR Fitness and Rehabilitation Equipment

NAICS

Electromedical and Electrotherapeutic Apparatus Manufacturing (334510)

SIC

Orthopedic, Prosthetic & Surgical Appliances & Supplies (3842)

akta.pro primary industry

Assistive Technology, Adaptive Equipment & Home Exercise Program Training In-Home (HSABADAN)

akta.pro secondary industry

VR/XR Hardware & Accessories (Headsets, Controllers, Trackers, Haptics) (MPAFAGAG)

Keywords

• VR fitness equipment
• Rehabilitation training systems
• Medical exercise devices
• Exergaming platforms
• Balance training systems

Headquarters

HQ city

Martinsried

HQ country

Germany

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Technology or R&D, Personnel, Marketing or Sales, Operations

Revenue model

1. Hardware Sales - Enterprise Systems: High-value equipment sales including ICAROS Health (from €24,900), ICAROS Guardian (from €14,900), and ICAROS Circle complete system (€49,900). One-time capital purchase with optional leasing. Targets clinics, rehab centers, and fitness facilities.
2. Hardware Sales - Consumer/SMB: ICAROS Cloud (from €1,400) and I.S.T. Board (€750) sold directly through e-commerce and sales team. Lower price point for boutique studios, home gyms, and individual consumers.
3. Leasing/Financing: Leasing options available for all products: ICAROS Health from €454.69/month, ICAROS Guardian from €278.63/month (60 months, 20% residual value), ICAROS Circle from €900.97/month. Enables customers to acquire equipment without large upfront capital expenditure.
4. ICARACE Subscription: Free-to-play ICARACE multiplayer with optional €116/year subscription for full access to all vehicles and race tracks. Access to tournaments with prizes for subscribers.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels7 records

Core offering

ICAROS designs, manufactures, and sells integrated hardware-software training systems that combine unstable-surface exercise platforms with VR and gamified exergames. Its portfolio spans a foot-controlled I.S.T. Board, the ICAROS Cloud full-body home/studio platform, the safety-engineered ICAROS Guardian for clinical and senior use, and the Class I medical device ICAROS Health for orthopedic and neurological rehabilitation, all unified by the ICAROS App and complemented by the ICARACE global multiplayer esports platform.

Product overview

ICAROS is a Munich-based company (ICAROS GmbH) developing innovative digital training systems that combine physical exercise with gamified VR experiences. The product portfolio centers on a modular ecosystem of hardware devices and software applications: ICAROS Circle is the comprehensive complete system combining four devices (I.S.T. Board, ICAROS Health, ICAROS Guardian, and ICAROS Cloud) for progressive rehabilitation from lower extremity activation through full-body training. ICAROS Health is a Class I medical device for core and balance training in clinical rehabilitation settings. ICAROS Guardian provides safety-focused balance training for studios and performance facilities. ICAROS Cloud offers a digital full-body workout platform for fitness clubs and home use. The I.S.T. Board provides foot-controlled exercise for balance and mobilization. The ICAROS App serves as the unified software platform controlling all devices, offering diverse exergames (EVOLVE, EXPLORE, DEEP, GRAVITY, FLIGHT, AIM, DOLOMITEN, BERCHTESGADEN, ENGADIN). ICARACE is the global multiplayer esports racing simulation. Products are designed and manufactured in Germany with Made in Germany quality standards.

Differentiator

Problem solved

Functional benefit

Brands

• ICARACE: Global competitive multiplayer racing simulation where players fly on ICAROS Pro or Home devices. Free to play with subscription model (€116 per year) for full access.
• I.S.T. Board

Products and services

• ICAROS Circle Comprehensive therapy and training system that combines the I.S.T. Board, ICAROS Health, ICAROS Guardian, and ICAROS Cloud into a single €49,900 bundle for clinics and performance facilities, progressing users from lower-extremity activation to horizontal core training, upright balance exercises, and full-body post-rehabilitation training. Requires minimum 3m × 5m (15m²) floor space.
• ICAROS Health Class I medical device priced from €24,900 (leasing from €454.69/month) for innovative core and balance training in orthopedics and neurology. Designed for physiotherapy, occupational therapy, and therapeutic exercise with support and entry aids for patients with physical limitations. PC and VR headset not included.
• ICAROS Guardian Balance and stability training system priced from €14,900 (leasing from €278.63/month) designed for studios, performance facilities, clinics, rehab, and senior living. Features robust handrails, minimal-supervision design, and intuitive operation; bundle includes iPad, Apple TV, screen, and ICAROS App access.
• ICAROS Cloud Digital full-body workout platform combining effective training with playful exergames, priced from €1,400. Controlled via smartphone or tablet over Bluetooth, requiring approximately 1.5m × 2.5m of floor space. Suitable for home gyms, boutique studios, and group training. Individual pricing available for studios and bulk orders.
• I.S.T. Board Foot-controlled exercise device priced at €750 for balance, reaction, coordination, and mobilization of lower extremities. Ultra-lightweight, compact, plug-and-play via Bluetooth to a smartphone or tablet running the ICAROS App. Suitable for seated or standing use and also available as part of the ICAROS Circle complete system.
• ICARACE Global competitive multiplayer racing simulation where players fly on ICAROS devices. Combines fitness with esports through body control, strength, and concentration. Free to download and play; subscription at €116/year unlocks all vehicles and race tracks and grants tournament entry with prizes.
• ICAROS App Mobile application that controls all ICAROS devices and delivers gamified exergames and workouts, including EVOLVE, EXPLORE, DOLOMITEN, DEEP, GRAVITY, FLIGHT, AIM, BERCHTESGADEN, ENGADIN, and the ICARACE multiplayer mode.

Quantifiable outcome

• Improvement in balance and walking speed after regular ICAROS training (per customer testimonial)
• +3 more outcomes

Named customers8 records

Segments8 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature7 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• MEDICLIN Fachklinik Rhein RuhrcoreOthersLeading German rehabilitation clinic using ICAROS systems for patient treatment. Referenced as key customer reference in healthcare segment.
• Sonne Mellau – Feel good HotelcoreOthersFeel-good hotel in Austria using ICAROS for guest wellness and movement experiences.
• Sportresort Hohe SalvecoreOthersAustrian sports resort using ICAROS for guest training and athletic experiences.
• SIRICAcoreStrategic or Co-development PartnerInnovative center opening in California Bay Area supporting autistic and neurodivergent individuals. ICAROS systems deployed for immersive movement and neurotraining experiences. First ICAROS installation in US neurodiversity sector.
• UCLAcoreStrategic or Co-development PartnerResearch collaboration investigating ICAROS Lightning's effect on shoulder depth perception and joint stability. Study results demonstrate significant improvement in joint perception during dynamic movement. Validates athletic training applications.
• Peterka ArenacoreOthersModern ice hockey arena in Dorfen, Germany, opened by NHL pro JJ Peterka. ICAROS Lightning integrated into high-tech training facility for elite athletic performance and injury prevention.
• University Hospital of Cologne (Uniklinikum Köln)coreStrategic or Co-development PartnerPilot project using I.S.T. Board for playful exercise during children's dialysis treatment. Featured in WDR television report. Innovative therapeutic application of gamified movement.
• Plex CoffeeminorGTM or Marketing PartnerCoffee and hospitality partner for trade show events. Provided barista services and specialty coffee/matcha at ICAROS booth during therapie München.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• VirZOOM: VR fitness hardware/software company offering exergaming on stationary bikes — direct competitor in the VR-fitness exergaming category ICAROS targets with ICAROS Cloud/ICARACE.
• Tyromotion: Austrian/German manufacturer of robotic-assisted balance and therapy devices (e.g., PABLO, Tymo) directly overlapping with ICAROS's neuro/orthopedic rehabilitation product set.
• Hocoma (DIH Medical): Swiss-based medical robotics company offering balance, gait, and rehabilitation devices for clinical use; competes with ICAROS Health in clinical rehab settings.
• Aretech (LiteGait): US-based maker of gait, balance, and rehabilitation equipment sold into hospitals and rehab centers; competes with ICAROS in clinical orthopedic rehab channels.

Broad incumbents

• Peloton Interactive: Connected-fitness leader with subscription-supported hardware in the studios/home segment; broader incumbent that competes for fitness tech buyer mindshare and budget.
• HTC VIVE: Major VR headset vendor whose Vive Pro is on ICAROS's compatibility list; competes more broadly in immersive VR hardware and could expand into fitness-specific hardware/software.

Emerging players

• Bionik Laboratories: Provider of robotic rehabilitation products for upper and lower extremities; peer for clinical rehab tech with overlap in neurological and orthopedic therapy markets.
• Black Box VR: US boutique-fitness VR strength-training chain; emerging competitor that overlaps with ICAROS's VR-enabled boutique studio and fitness-club positioning.
• Nintendo Ring Fit Adventure (Ring-Con): Consumer-grade exergaming with a leg-strap controller that engages core/lower body in VR gameplay — adjacent consumer exergaming product competing for home-user attention.

Regional players

• Surul (Kunde Life): European provider of senior-friendly exergaming/balance training stations for senior care and rehab — overlaps with ICAROS's Senior Living and Guardian segments.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/icaros
• Instagraminstagram.com/icaros
• Xx.com/icarosflight
• LinkedInlinkedin.com/company/icaros-gmbh

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ICAROS