Metabolic testing — reading the gases in a person's breath to see how the body makes energy — has been the gold standard for measuring VO₂ max for over a century. It has also, for most of that time, required bulky, expensive equipment and a trained technician, which kept it inside sports labs, hospitals and executive wellness programmes.
PNOĒ, a Malden, Massachusetts-based company with operations in Athens, Greece, is betting the technician is the last thing to go. On October 1 it launches the PNOĒ 2.0, a mask and detachable electronics package that lets a user administer the test alone. Co-founder and CEO Apostolos Atsalakis describes it plainly: walk into a gym, "just wear the mask, push the button, sit down," and breathe for eight minutes. The current device requires an operator, which limits where it can be deployed; a self-serve version could reach fitness centres with no dedicated staff and, Atsalakis said, potentially pharmacies.
The company says the test captures 23 biomarkers, including VO₂ max, resting metabolic rate — how many calories the body burns at rest — and metabolic flexibility, or how well it switches between fat and carbohydrate. Atsalakis argues these answer questions blood tests cannot, such as how many calories a person needs and how they should train. VO₂ max has become a buzzword in longevity circles, helped by research linking higher cardiorespiratory fitness to lower mortality; he calls it the strongest predictor of human longevity.
The 2.0 is smaller and has fewer parts than its predecessor, which PNOĒ says makes it more reliable. It was designed with Milan's Design Group Italia over what Atsalakis called "a lot, a lot, a lot of iterations". It also answers a post-pandemic objection — who wore it last — by separating the electronics from the silicone mask and straps, so a gym can share the expensive hardware while each customer keeps a personal mask.
PNOĒ is careful about what it claims. The device is not cleared by the US Food and Drug Administration, and Atsalakis said the company "does not provide medical recommendations", positioning it as a wellness device like a body-composition scale. Using breath compounds to flag diseases such as cancer is a live research area, he said, but full diagnosis is "definitely a couple of years away". The company sells only to businesses and says its clients include Equinox, Four Seasons, Red Bull, the NBA, the Mount Sinai Health System and the med-spa chain Restore Hyper Wellness, on a subscription of $400 to more than $1,000 a month that bundles hardware, software, training and marketing. About 85% of revenue comes from the US.
PNOĒ went through Y Combinator in 2019 and has raised roughly $22 million, including a recently closed $11 million round, from investors including 50 Years and Google Maps co-founder Lars Rasmussen. It employs 110 people, says it recently turned profitable, is growing more than 100% a year and plans a Series B within 6 to 12 months. The crowded middle it occupies — above smartwatch VO₂ max estimates, below a clinical workup — is the one worth watching.
