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#BTATechBytes : Fitness Tech Startups On Track To Break (Another) Funding Record

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Fitness tech deals rose steadily 2013 – 2016, and while at the current pace 2017 is on track to see the first dip in deals, this year is also on pace to reach a record funding high.

Thus far, 2017 has seen $585M invested across 103 deals, largely driven by a $325M Series E mega-round to cycling startup Peloton Interactive in Q2’17. The round was backed by high-profile VCs (Kleiner Perkins Caufield & Buyers, GGV Capital) and television corporates (Comcast, NBCUniversal), among others.

The year’s second-largest round to date went to fitness subscription service and on-demand workout app ClassPass, in a $70M Series C round led by Singapore-based sovereign wealth fund Temasek Holdings, among other investors.

At the current run rate, 2017 is on pace to see 176 deals totaling $998M, representing a 123% increase in funding and a 10% decrease in deals from 2016.

Last year saw $447M in funding across 195 deals, the current annual record for deals to fitness tech startups. While 2015 saw mega-rounds to Peloton Interactive and ClassPass, 2016’s largest round went to Germany-based company eGym, which provides cloud-connected gym equipment and a mobile training app, in a $45M Series C round led by HPE Growth Capital.

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