At first glance, PNOĒ’s newest device resembles the mask worn by the comic‑book villain Bane, covering the nose and mouth and strapping around the head. Despite its striking appearance, its function is benign: it measures oxygen consumption and carbon dioxide exhalation, converting those metrics into personalized guidance on nutrition, training, and longevity.
Based in Malden, Massachusetts, with operations in Athens, Greece, PNOĒ is set to release the PNOĒ 2.0 on October 1. The key upgrade from the existing model is that users can perform the test themselves. Co‑founder and CEO Apostolos Atsalakis explains that a user can walk into a gym, put on the mask, press a button, sit down, and breathe for eight minutes—after which the process is complete.
The current device requires a trained operator, restricting its deployment. A self‑serve version would enable use in fitness centers lacking dedicated staff and could even extend to pharmacies, Atsalakis noted.
The underlying science is not novel. Metabolic analysis, which evaluates the gases in exhaled breath to infer how the body generates energy, has existed for over a century. For decades it has served as the gold standard for measuring VO₂ max—the maximal oxygen uptake during exercise and a widely used indicator of cardiorespiratory fitness. Traditionally, the test demanded bulky, costly equipment confined to sports labs and hospitals, limiting its use to elite athletes and executive wellness programs.
PNOĒ claims to deliver laboratory‑grade accuracy in a portable form factor, coupled with software that translates the raw data into actionable recommendations. “We made it accessible to everyone,” Atsalakis said. The device captures 23 biomarkers, including VO₂ max, resting metabolic rate (the calories burned at rest), and metabolic flexibility (the ability to shift between fat and carbohydrate oxidation). These metrics, he argues, answer questions that blood tests cannot, such as daily caloric needs and optimal training approaches.
The launch coincides with growing interest in VO₂ max among longevity enthusiasts, fueled by research linking higher cardiorespiratory fitness to reduced mortality. Atsalakis describes VO₂ max as the strongest predictor of human lifespan and views PNOĒ’s data as a scorecard for the expanding wellness market.
The new unit is smaller and more streamlined than its predecessor, with fewer components that Atsalakis says enhance reliability. It was developed in collaboration with Milan‑based Design Group Italia through what he described as “a lot, a lot, a lot of iterations,” since a self‑administered metabolic testing device had not previously existed.
It also addresses a post‑pandemic concern: who used it last? The electronics detach from the silicone mask and straps, allowing multiple users to share the same hardware while each individual retains their own mask.
Despite its clinical aspirations, PNOĒ is cautious about claims. The device has not received clearance from the U.S. Food and Drug Administration, and Atsalakis stresses that “we do not provide medical recommendations.” Instead, the company positions PNOĒ as a wellness tool akin to a body‑composition scale, noting that physicians cannot prescribe medication based on its results.
He adds that future applications could emerge. Researchers have long investigated whether breath compounds signal diseases such as cancer, and Atsalakis believes the accumulating data might eventually help flag health issues. However, he acknowledges that full diagnostic capabilities remain “definitely a couple of years away,” with regulatory hurdles likely extending that timeline further. “We’re not there yet,” he said.
PNOĒ traces its origins to Atsalakis’s PhD work in sensing technologies at the University of Cambridge, where the rise of wearables sparked his interest in what breath reveals about physiology. He co‑founded the company with childhood friend Panos Papadiamantis, now chief product officer. The startup participated in Y Combinator’s Winter 2019 batch, back when “longevity” was not yet a major industry sector. To date, it has raised roughly $22 million, including a recent $11 million round, from backers such as 50 Years and Lars Rasmussen, co‑founder of Google Maps, who is now based in Athens.
PNOĒ sells exclusively to businesses, which then offer the test to their end users. Clients include Equinox—available at nearly all of its clubs—as well as Four Seasons hotels, Red Bull, the NBA, the Mount Sinai Health System, and the med‑spa chain Restore Hyper Wellness.
About 85 % of the company’s revenue comes from the United States, which Atsalakis calls “by far the most advanced market globally” for longevity solutions. PNOĒ is now expanding in Europe and, through partners, into Latin America and Asia. Business customers pay a subscription ranging from $400 per month to over $1,000, covering hardware, software, training, and marketing materials—a bundle Atsalakis describes as a “business in a box.” The platform also links test results to the services a business sells, enabling a gym or spa to suggest specific offerings based on a customer’s metabolic profile. Many clients administer the test during onboarding, positioning it between a full clinical workup and the estimates provided by consumer smartwatches.
That niche is becoming crowded. Apple, Garmin, and Whoop estimate VO₂ max from heart‑rate data, while consumer devices such as Lumen analyze breath to gauge fat versus carbohydrate burning. At the high end, traditional metabolic carts remain the standard in laboratories and hospitals.
PNOĒ employs 110 people, reports recent profitability, and is growing at more than 100 % year‑over‑year. Atsalakis says the firm plans to raise a Series B round within the next six to twelve months as it seeks to place its mask—Bane comparisons and all—on more faces.
