The funding for fitness technology company Egym comes from its new investor Affinity Partners, a global investment company based in Miami, USA, as well as from existing investors Mayfair Equity Partners and Bayern Kapital. At 207 million euros, the financing round is one of the largest in the portfolio of seed investor High-Tech Gründerfonds (HTGF).
107 million euros will flow immediately, with a further 100 million euros available for future investments. Investment priorities include the development of additional innovative digital solutions for health-oriented training and massive expansion of the corporate fitness network Wellpass. According to its own statements, the Egym Group is currently growing year-on-year by 70 percent and expects to close the 2023 fiscal year profitably while simultaneously investing significantly in future growth. Worldwide, almost 16,000 studios are already using the startup’s products and services, including many of the largest enterprise studio chains.
Dr. Alex von Frankenberg, Managing Director of HTGF, comments:
“Since 2011 we have been accompanying Egym. The company addresses two megatrends: On the one hand, fitness and health through networked and intelligent fitness equipment. On the other hand, Egym offers employers a very attractive range of diverse fitness options for their employees through Wellpass. In an increasingly competitive labor market, Egym helps employers become significantly more attractive not only to the younger generation but to all employees.”
Philipp Roesch-Schlanderer, co-founder and managing director of Egym, adds:
“HTGF is not only one of our early investors, but above all a partner who has always believed in us and our business model. It is an important contact, especially in turbulent times. We want to thank them for this trust. We are pleased that we can continue to work on Egym together.”
