eGym raises $45M for connected gym equipment, US launch

By Aditi Pai
12:06 pm
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Germany-based connected gym equipment company eGym has raised $45 million in a round led by HPE Growth Capital with participation from existing investor Highland Europe, according to TechCrunch. This brings the company’s total funding to at least $60 million.

The company’s equipment offers a training portal that allows members to view their workout history, plan their training, and connect with friends from eGym’s website or app, available on iOS and Android devices. Users can also sync exercise data from other devices including apps like Runkeeper, and devices from companies like Fitbit and Jawbone.

On the app, users are able to collect points based on how much they work out, choose from more than 800 exercises, and adapt their workout to training plan templates.

eGym launched its offering in 2013 and at the end of its first financial year, the company broke even. In July 2014, when the company announced its last raise, eGym offered 18 electronic strength training machines.

The company told TechCrunch it will use its funds to launch its product in the US.

There are a number of other digital health companies that are developing connected offerings for the gym.

A few years ago, in 2013, MobiHealthNews rounded up seven digital fitness companies looking to change users’ gym habits. One such startup, Pact (formerly known as GymPact), incentives users to regularly visit the gym. Another, called Blue Goji offers a system that gamifies standard cardio gym equipment.

And in 2014, San Francisco-based Netpulse, which offers fitness clubs software that connects fitness devices and apps to gym equipment, acquired Atlanta, Georgia-based health club app maker, Club Apps for an undisclosed sum.

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