Connected Fitness Startup Hydrow Closes $27M Series A
Hydrow, a related indoor rowing system startup, said today it had multiplied its Series A, taking the round’s overall to $27 million.
Hydrow began selling its product, which stocks the equal call as the business enterprise, remaining fall. L Catterton initially led the first tranche of the Series A in February, at which time Hydrow raised $20 million, in step with its Crunchbase profile. It has now raised some other $7 million from investors, including Rx3 Ventures, which changed into co-based via Green Bay Packers quarterback Aaron Rodgers; Wheelhouse; The Raptor Group, and The Yard Ventures.
In a press release, Hydro said it plans to apply the brand new capital to “in addition fuel” its increase because it begins delivering connected indoor rowing machines national.
In a press launch, Nate Raabe, dealing with an accomplice at Rx3 Ventures, stated his firm became inspired by Hydrow’s “capability to connect humans and supply an advanced, low-impact exercise.”
The global digital health marketplace is projected to be well worth $27 billion by using 2022. Indeed, we’ve got written approximately some of the virtual fitness startups that have raised task budget as of late. Just this morning, we posted a story about how Glofox, which sells software to boutique health studios, lately picked up a $10 million Series A.
Last month, we mentioned how Tonal raised $45 million in a Series C spherical led by L Catterton’s boom fund. Evolution Media/CAA, Shasta Ventures, Mayfield, Sapphire Ventures, expert tennis participant Serena Williams’ Serena Ventures, and other investors participated in the financing.
And in December, our Savannah Dowling wrote about the maximum funded fitness startups helping human beings damage a sweat. At that point, according to CrunchBase, the ten maximum funded U.S. Startups in fitness had raised more than $1.6 billion. The first startup on the list, spin bike and treadmill developer, Peloton, raised a $550 million Series F in early August 2018, bringing its general recognized funding to more than $994 million and its valuation to $4 billion, post-cash.
The funding is also an instance of the way expert athletes are increasingly investing in startups. For example, in February, digital sports activities media startup Overtime raised $23 million in a Series B spherical of investment-led using Spark Capital that still protected participation from NBA players.
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