The Goldman Sachs Group, Inc. provides investment banking, securities, and investment management services, as well as financial services to corporations, financial institutions, governments, and high-net-worth individuals worldwide. Its Investment Banking segment offers financial advisory services, including advisory assignments concerning mergers and acquisitions, divestitures, corporate defense, risk management, and restructurings and spin-offs; and underwriting services comprising public offerings and private placements of a range of securities, loans, and other financial instruments, and derivative transactions. The company’s Institutional Client Services segment provides client execution services, such as fixed income, currency, and commodities client execution related to making markets in interest rate products, credit products, mortgages, currencies, and commodities; and equities related to making markets in equity products, as well as executes and clears institutional client transactions on stock, options, and futures exchanges. This segment also engages in the securities services business providing financing, securities lending, and other brokerage services to institutional clients, including hedge funds, mutual funds, pension funds, and foundations. Its Investing and Lending segment originates longer-term loans; and invests in debt securities, loans, public and private equity securities, real estate, consolidated investment entities, distressed assets, currencies, commodities, and power generation facilities. The company’s investment management segment provides investment products and services, as well as offers wealth advisory services, including portfolio management and financial counseling, and brokerage and other transaction services.

Goldman Sachs

North Castle is the leading small cap consumer private equity firm focused in the Health, Wellness & Active Living Sector. This sector represents almost $1 trillion of consumer companies that are growing rapidly and entrepreneurially managed. Sector growth is fueled by the aging of the population both Baby Boomers and their parents and children, and the increased pursuit across all ages of activities and behaviors that promote longevity and quality of life.

North Castle Partners

Echelon Fitness

Echelon Fitness is a new approach to fitness. Echelon knows its hard to find a workout that consistently fits your schedule, and home workout programs never seem to live up to their promises. Echelon Fitness has created a professional, studio-quality fitness experience that you can do on your time, and in the comfort of your own home. Echelon classes have a variety of classes and programs that will be live and available on-demand. These programs include studio-level cycle classes, yoga, and other core strengthening programs.

Echelon produces connected fitness products including bikes, smart mirrors, rowers and treadmills. It also offers own-branded fitness gear manufactured in partnership with Fit for Life. Its Echelon Fit app provides on-demand and live classes including spin, yoga, pilates, and cardio—which are produced in countries in the US, Canada, Germany, and France—for a monthly subscription. As of December 2020, Echelon reported roughly 100,000 active users. Its products are available in the US, Canada, Mexico, the UK, Germany, France, Australia, and Iceland.

New products and new technologies are bringing high-end gym workouts to the home.

Connected Fitness

Echelon Fitness teams up with Run Disney to tap into 170,000 ...

Samsung Electronics

To provide Samsung Smart TV users with free access to over 5,000 hours of wellness content from leading fitness brands, including barre3, Calm, Echelon, Fitplan, Jillian Michaels Fitness, and obé Fitness.

A new industry proving that digital connectivity and mental health can co-exist.

Digital Wellness

Apps that provide virtual training programs, track workouts, and provide guides for nutrition.

Echelon produces connected fitness products including bikes, smart mirrors, rowers and treadmills. It also offers own-branded fitness gear manufactured in partnership with Fit for Life. Its Echelon Fit app provides on-demand and live classes including spin, yoga, pilates, and cardio—which are produced in countries in the US, Canada, Germany, and France—for a monthly subscription. As of December 2020, Echelon reported roughly 100,000 active users. Its products are available in the US, Canada, Mexico, the UK, Germany, France, Australia, and Iceland.Echelon equipment includes:Connect Bike: At-home exercise bikes with on-demand and live-stream classes available at USD 999 onwards. The company also offers a premium bike retailing at USD 2,299;Reflect: Screen-only smart mirrors with on-demand and live-stream classes priced at USD 2,999;Smart Rower: At-home exercise rowers with on-demand and live-stream classes available priced at USD 1,699;Echelon Stride: A compact foldable treadmill with connected features available for USD 1,999.In addition, the company launched its “Echelon Sport-s Connected Bike” exclusively for Sam’s Club, a membership-only retail warehouse club owned by Walmart, for USD 799 in March 2021.The company launched a fully-licensed music offering with MediaNet, a music distribution and rights management platform, in November 2020, enabling Echelon to curate custom playlists. The company also signed a multi-year agreement with celebrity/entrepreneur Pitbull in June 2021. Pitbull will have a dedicated channel on Echelon Fit app, help design a co-branded bike, release a dedicated song for the brand, and take on an advisory role in the company in relation to content rights and deals. It also gives the company exclusive access to his music catalog within the fitness industry.In April 2021, Echelon raised an undisclosed amount of funds from Goldman Sachs Growth, North Castle Partners, United Talent Agency (UTA), and several other angel investors. The company plans to use the funds to form new partnerships, create new content, expand the team, and continue its product innovation.

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 Hydrow is a connected rower designed to simulate the experience of rowing on water while indoors and at home. The device is equipped with a screen that plays outdoor rowing workouts for users to perform. The rower uses a patented drag mechanism that is electromagnetic and computer-operated. A unique feature of Hydrow compared to the conventional indoor rowers is that its strokes are smooth and silent, which caters to urban living. Hydrow offers rowers under two models; its original rower that starts at USD 2,495 and 
 <a href="https://sp-edge.com/updates/11656">
 “Hydrow Wave,”
 </a>
 a low-cost compact model that retails at prices starting from USD 1,495. The prices go upward depending on added equipment such as workout mats, heart rate monitors, foam rollers, resistance bands, and headphones.
 
 
 In addition to the rower, users can access live classes and a library of on-demand videos (both rowing and other exercises such as yoga) for a USD 38 monthly subscription. Hydrow also features a leaderboard to promote competitions within the community. The company has retail locations in the US and the UK. 
 
 
 Key customers and partnerships
 
 
 Hydrow reported having more than 200,000 users as of March 2022. It also has partnerships with several organizations such as schools, clubs, resorts, residences, and gyms to supply its equipment.
 
 
 Funding and financials
 
 
 Hydrow achieved 3x year-over-year (YoY) revenue growth in 2021.
 
 
 <a href="https://sp-edge.com/updates/9187?industryIds=2">
 In March 2022,
 </a>
 Hydrow raised USD 55 million in Series D funding led by Constitution Capital. It planned to utilise the funding for further product development, to expand reach globally, improve brand awareness, and scale production to meet growing demand. Previously in 
 <a href="https://sp-edge.com/updates/5691">
 September 2021,
 </a>
 the company raised an undisclosed amount, from celebrity investors. 
 <a href="https://sp-edge.com/updates/4671">
 In August 2021,
 </a>
 it was also reported that Hydrow was in talks to go public via a merger with the special-purpose acquisition company (SPAC). The deal could have valued the combined entity at more than USD 1 billion, though the terms had not been finalised. Reportedly, the SPAC is also in talks with investors to raise private investment in public equity (PIPE). 
 
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Hydrow

Studio offers a smart mirror that allows users to connect it with existing home workout equipment without having to purchase new equipment altogether. The system comprises a 43-inch vertical screen enabling users to follow along with training sessions available live and on demand. The screen also displays stats and other connected device data such as treadmill speed, a bike’s cadence, heart rate, and other metrics. Studio connects with other devices via Bluetooth and sensors.The Studio hardware is priced at USD 999 and the system requires an annual subscription fee of USD 199.99, with which users can access classes for a variety of workouts, including treadmill, cycling, strength, rowing, boxing, yoga, etc.In October 2021, the company partnered with Sole Fitness, a home-fitness equipment manufacturer, to offer connected workouts on Sole’s equipment including ellipticals, treadmills, indoor bikes, and rowers.

Studio

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 CityRow uses water rowers with attached screens to play live and on-demand classes as well as game-based workout programs. Its mobile app, “City Row Go,” was introduced in 2018 as a platform to share on-demand classes, extending CityRow gyms, workouts, and programming to the masses. CityRow offers connected rowing equipment under two models, “CityRow Go Max” and “CityRow Go Classic,” available for USD 2,195 and USD 1,495, respectively. CityRow Go Max is equipped with a built-in, 19.5-inch sweat-resistant touchscreen with speakers and Bluetooth compatibility, while the CityRow Go Classic model features a Bluetooth-enabled LED-backlit monitor. Users can subscribe to its app for USD 29 monthly or USD 348 annually to access the content library. CityRow ships its products in the US, UK, and Australia (as of January 2022).
 
 
 In addition, the company also owns and operates rowing-focused boutique fitness studios across the US. Since its inception in 2014, CityRow has expanded to operate 11 such studios as of July 2021.
 
 
 CityRow repored a 375% year-over-year (YoY) growth in revenue in 2020. The company raised USD 12 million in a Series A funding round led by JW Asset Management, in July 2021. The company intends to primarily use the funds to introduce live streaming classes to its workout content in late 2021. In addition, CityRow also hopes to double the workforce to roughly 28 employees and launch 12 more franchise studios (out of 64 franchises sold) by 2022.
 
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CityRow

Carbon Trainer offers a 4K LCD touch screen display with built-in sensors and accessories. Carbon Trainer is powered by AI and motion capture, which enables the system to track form and techniques as well as count reps. Carbon Trainer facilitates resistance training, conditioning- HIIT, strength training, bodyweight training, mobility, stretching, and yoga classes on demand. Users have the option of using weights from Carbon that are equipped with built-in sensors or attaching sensors provided by Carbon on regular weights for them to be compatible with the system. Carbon Trainer with a wall mount is available for USD 2,295, whereas the version with the aluminium stand is sold for USD 2,549. Both include a six-pack of smart sensors and two resistance bands. For USD 39 per month, users can gain access to live and on-demand classes.

Carbon Trainer

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 Volava offers a range of connected at-home fitness devices that include a bike, a treadmill, and a heavy bag, available across Europe. Unique to Volava, all the devices are equipped with a leaderboard on the screen that allows users to compete with the community. All its devices offer access to on-demand and live classes. 
 
 
 In February 2021, Volava raised EUR 2 million (USD 2.4 million) in seed funding from Inveready, JME Ventures, and Wayra. The company intends to utilize the funds for continued business growth and expand its operations in national and international markets.
 
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VOLAVA

Companies that offer other types of connected/interactive equipment not classified above such as interactive punching bags, aerobic trainers, climbing machines etc. These devices come with an attached display or a mobile app offering live and on-demand classes and workouts.

Companies that offer connected/interactive mirror devices with video playback and/or touchscreen features. Some devices include additional equipment and allow users to connect the smart mirror with existing equipment (ex: bikes and treadmills) to display live and on-demand workouts and other performance measures.

Companies that offer connected/interactive stationary rowing equipment, along with an attached display or mobile app offering live and on-demand classes and workouts.

Companies that offer connected/interactive treadmills, along with an attached display or mobile app offering live and on-demand classes and workouts.

Companies that offer connected/interactive stationary exercise bikes, along with an attached display or mobile app offering live and on-demand classes and workouts.

Offers digital means of monitoring vitals and personalized programs in connection to fitness

Uses AI/ML to track user workouts and provide effective programs to improve user experience

<div>
 Echelon, a producer of interactive fitness equipment, has purchased advanced recovery product specialist, ThriveX. The terms of the deal were not disclosed. The acquisition is expected to aid Echelon's new product development and offering expansion, by utilizing ThriveX's proficiency and reputation in fitness recovery. 
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Echelon Fitness

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