eGym raises $20 million to grow its connected fitness platform in the U.S.

Above: eGym workout
Image Credit: eGym MOST READ

Germany-based fitness equipment and software startup eGym has raised $20 million in a series D round of funding led by Nokia-funded venture capital firm NGP Capital, with participation from Highland Europe and HPE Growth Capital.

Founded out of Munich in 2011, eGym’s platform constitutes both hardware and software. The company builds fully connected electronic strength machines, in addition to mobile apps for tracking fitness metrics and the overarching eGym One cloud platform that draws on data from connected machines, wearables, apps, and other gadgets.

Indeed, this is a key facet of eGym’s offering — though it does offer its own equipment, its cloud-based platform is “gym supplier agnostic,” as the company puts it. It works with the likes of Life Fitness, Precor, and Matrix Fitness machines.

By Paul Sawers.

Full story at Venture Beat.