eGym raises EUR 17.5 million
Munich-based sports tech company eGym announced the closing of a US$20 m Series D financing round led by NGP Capital. Also involved are the existing investors Highland Europe, HPE Growth Capital and the Bavarian Growth Fund managed by Bayern Kapital.
eGym will use the new funds to accelerate its international expansion with a focus on the US market and to further expand its corporate fitness offering. "The US is by far eGym's largest market and we need to be there," said eGym co-founder and CEO Philipp Roesch-Schlanderer. "We are very pleased to have NGP Capital as an experienced digital healthcare investor with an extensive U.S. network to support our global expansion with immediate effect".
eGym's software-based, intelligent training solutions are used in nearly 14,000 fitness and health facilities across Europe and the United States. Key components include fully electronic strength machines, the mobile eGym apps for trainers and members, and eGym ONE, the open cloud platform.