In the German startup scene, there is a financing round of new dimensions: The Munich startup eGym has announced that it has successfully closed a Series C financing round of $45 million.
HPE Growth Capital has joined as a new investor. Previously involved investors – Highland Europa, which invested $15 million in 2014, High-Tech Founders Fund and Bavaria Capital – are also participating again. With this capital, eGym intends to further accelerate its international growth and invest heavily in technology. eGym has been on the market since 2013 with products that connect training equipment and training spaces. Within just a few years, the company has grown to approximately 240 employees at multiple locations.
Early support by BayStartUP
eGym was awarded in the Munich Business Plan Competition 2010 and used the BayStartUP Financing network for seed financing. Among those who joined was business angel Jürgen Gallmann, formerly of Microsoft.
“eGym stands for training success and more fun in the gym!”
eGym provides the complete, innovative infrastructure for digital value creation in fitness studios. The company targets operators, trainers, and members. Its products include hardware and software, namely fully electronic strength training equipment and CRM software for a networked training area. Apps for trainers and members enable mobile, individualized and efficient support, including personalized training plans. Interfaces to equipment from other manufacturers further expand the training area organized by the eGym system.
Philipp Roesch-Schlanderer (on the photo right), who founded and runs eGym with Florian Sauter (left), on the financing round:
"Our product strategy is unique in the global fitness market: eGym combines state-of-the-art German electrical and mechanical engineering with the advantages of mobile online applications. Our goal is to support trainers and operators so they can position themselves as true innovation leaders for their members. eGym stands for fast and sustainable training success and more fun in the gym! We are delighted to have HPE as a new partner who shares both our enthusiasm for cutting-edge technology and our ambitious corporate goals."
