EGYM, the Munichbased smart fitness startup, raises $225M from Jared Kushners Affinity Partners
- This is a Series F, and EGYM said that roughly half of it, €107 million, will “flow immediately” with the remaining €100 million on the table for future use.The first tranche is coming at a post-money valuation of €600 million.
- “We want to shift that.”You can argue that this is a gross over-simplification of the state of global healthcare market today, but you might argue less with EGYM’s numbers.The business brought in $130 million in revenues in 2022, growing 70% year-over-year.
- The technology industry at large might not be in the best of health at the moment, but health and fitness startups appear to be alive and well.
- Over time, the company has been slowly incorporating more sophisticated tech into the mix, and making the software work with other equipment.
- Last week, Augmedics raised more than $80 million for a new take on spinal surgery that aims to be less invasive and more accurate thanks to AR and AI.
- Affinity Partners — the Saudi-backed, Florida-based investment firm founded by the son-in-law and close confidante of former U.S. President Donald Trump — is leading the round, with previous backers Mayfair Equity Partners and Bayern Kapital also participating.
The technology industry at large might not be in the best of health at the moment, but health and fitness startups appear to be alive and well. EGYM, the Munichbased smart workout solution busines [+6579 chars]