March 29, 2021
Copenhagen-based indoor cycling platform, Motosumo has announced the completion of a €5 million ($6m) Series A funding round led by London-based SME growth investor, Magenta Partners and existing investors.
Investors in Motosumo from previous rounds include the Danish venture capital fund Promentum Equity Partners, and PreSeed Ventures.
WHY IT MATTERS
Motosumo’s tech allows users to join the...
(Image courtesy of Peloton)
March 24, 2021
Peloton's acquisition spree. Bloomberg reports three smaller acquisitions by connected fitness company Peloton Interactive over the past several months. These include AI voice assistant company Aiqudo in February, as well as fitness smartwatch maker Atlas Wearables and interactive workout mat Otari in the final quarter of last year.
Peloton told the publication that the three deals had closed and...
October 6, 2020
ICON Health & Fitness, the parent company of consumer connected fitness equipment brands like NordicTrack, Freemotion and iFit, has raised a $200 million growth investment. The company said that the funding was led by L Catterton, with participation from prior backer Pamplona Capital Management.
WHAT IT DOES
Founded in 1977 as an import business, Utah-based ICON first stepped into the home...
September 23, 2020
A one-sided arrangement. Earlier this week, budget-minded connected-exercise-maker Echelon Fitness announced the launch of is "Prime Bike," a $499 device that it described in its reveal as "Amazon's first-ever connected fitness product." Through a bring-your-own-tablet interface, the machine would enable owners to join live and on-demand fitness classes through Echelon's subscription service.
July 30, 2020
This week digital home fitness system Tempo announced a $60 million Series B funding round. Northwest Venture Partners and General Catalyst led the round with participation from DCM, Bling Capital, SignalFire, Founders Fund and Y Combinator.
As part of the deal, Northwest Capital’s Edward Yip and General Catalyst’s Holly Maloney were added to the board of directors.
This news comes just months...
September 26, 2019
Connected fitness company Peloton priced its IPO last night, raising $1.16 billion with shares priced at $29 a piece. That price didn't hold for too long, with the company closing its day out at $25.76.
According to Bloomberg, this makes Peloton the third-worst US trading debut in 10 years for companies that have raised at least $1 billion prior to their IPO.
The dip may partly be tied to Peloton...
August 29, 2019
Connected fitness company Peloton released its IPO prospectus Tuesday, revealing grim financials, even by today's startup IPO standards: the company lost nearly $200 million in FY 2019, four times what it lost the previous year. The document also contains plenty of reminders of the company's ongoing legal struggles relating to its music licensing and alleged patent infringement.
Yet, according to...
July 15, 2019
Echelon Fitness Multimedia, maker of Echelon Fit connected spin bikes and on-demand digital workouts, has received an infusion of growth capital from North Castle Partners. The companies declined to specify the size of this investment, but told MobiHealthNews that it brings Echelon’s business to a total value of $100 million.
WHAT THEY DO
On the surface, Echelon Fit — a standalone entity launched...
June 18, 2019
This morning, consumer tech retailer Best Buy announced that it has expanded its arsenal of connected fitness products for consumers.
Ranging from in-home exercise systems with live classes to smart exercise recovery devices, the new offerings are now available through the retailer’s online storefront, and will also be found in dedicated fitness spaces coming to more than 100 stores before the...
June 5, 2019
Peloton, the connected fitness company offering home exercise bikes and treadmills with built-in virtual classes, has announced its intention to IPO by filing a confidential draft statement of its S-1 to the SEC. The company is not disclosing the number of shares they plan to offer or their price range.
For those that count Peloton as a digital health company, it constitutes one of the most...