China fitness app Hotbody secures $15m
Chinese fitness app developer Hotbody has raised approximately RMB100 million ($15 million) in a new round of funding led by domestic GP Haodao Capital, with participation from existing investor Ameba Capital.
Launched in January 2015, Hotbody provides free online fitness courses, enabling users to manage their training schedule and record health data through the app. The company has expanded into other sport categories, having invested in Chinese online-to-offline yoga training platform Wake and sports equipment retailer Edco. Hotbody currently has more than 30 million registered users on its platform.
The start-up received angel funding from Ameba Capital in October 2014, and a RMB15 million pre-Series A round was completed one month later. Last April, Hotbody raised a RMB60 million Series A round led by Meridian Capital China. Ameba, The Arena Capital, Greewoods Asset Management, Green Pine Capital Partners and Tencent Incubator also participated.
The latest injection of capital will go towards team-building and branding, the company's founder Weite Xu told local media.
Several Chinese sport-focused mobile apps have raised funding from VC and strategic investors. Fitness app operator Keep received an undisclosed Series C-plus round from Tencent Holdings in August, extending a $32 million Series C round led by GGV Capital and Morningside Venture Capital earlier this year. Codoon, a wearable electronic devices manufacturer, received $50 million in a Series C round led by a sport industry-focused fund launched by FountainVest Partners and its portfolio company Focus Media.
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