Y Combinator is a startup accelerator that invests in a large number of startups twice a year. It created a new model for funding startups. Twice a year, the company invests a small amount of money ($150k) in a large number of startups. The startup accelerator works intensively with the companies for three months, to get them into the best possible shape and refine their pitch to investors. Each cycle culminates in Demo Day when the startups present their companies to a carefully selected, invite-only audience.

Y Combinator

GFC is a globally oriented, stage agnostic venture capital firm that empowers gifted entrepreneurs. The firm seeks to invest in companies that operate within the internet, retail, financial software, media, communication, and information technology sectors. It was founded by Oliver Samwer in 2013 and is based in Berlin, Berlin, Germany.

Global Founders Capital

Samsung NEXT Ventures is an investment arm of Samsung NEXT, a multifaceted innovation group within Samsung Electronics dedicated to identifying new growth opportunities that will define the next decade. The firm prefers to invest in artificial intelligence, fintech, blockchain, health technology, infrastructure, and media technology sectors.

Samsung NEXT

Pioneer Fund is a fund of 330+ Y Combinator alumni, investing in the top Y Combinator startups.

Pioneer Fund

Behind Genius Ventures makes pre-seed/seed stage investments in companies focused on product-led growth. It has made 12 core investments in companies focused on the ''future of work'' and ''future of play'' so far. The firm aims to motivate, educate, and empower the next generation of venture capitalists.

Behind Genius Ventures

Formic Ventures is a diversified venture capital firm that makes early-stage investments in biotechnology startups focused on human longevity as well as technology startups and companies that make human lives more meaningful.

Formic Ventures

We invest in the most promising tech companies globally. We are the venture capital arm of the Alarko Group, a leading Turkish conglomerate.

Alarko Ventures

Rebel Fund is a seed-stage venture capital fund powered by an elite network of Y Combinator alumni along with a proprietary machine learning algorithm for statistically predicting startup success.

Rebel Fund

is a family operated venture capital firm focused on early and growth-stage investments.

Altmark Ventures

Stripes is a growth equity firm that invests in software and consumer businesses. Stripes’ software practice invests in leading horizontal and vertical software platforms servicing customers from SMB to Enterprise. It was founded in 2008 and headquartered in New York, United States.

Stripes

Aviron Interactive

Aviron Interactive is a fitness company offering a rower with gamification features. It is a connected rowing machine designed with the user in mind. Short, high-intensity workouts save time, high resistance settings allow to include strength training along with cardio workout, and hundreds of content options to get motivated and keep engaged month after month.

<div><p>Aviron Interactive is a Canadian company that offers a rowing machine with gamification features. The company, founded in 2015, launched its interactive rower in 2017 after two years of design and development. The product has two models: “Tough Series Rower” for commercial use and “Impact Series Rower,” a foldable model for home use that was commercially rolled out in July 2020. Its rowers have a smart resistance system, a 21.5-inch HD touchscreen display, and a quiet nylon belt. The key differentiating factor for Aviron from most other interactive fitness companies is its software, designed for a connected gaming experience via its built-in display. The software includes six different workout categories, including introductory workouts for amateurs, personalized workouts, and real-time competitions with other users.</p></div>

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

Connected Fitness

<div>
  <p>
    Aviron Interactive is a Canadian company that offers a rowing machine with gamification features. The company, founded in 2015, launched its interactive rower in 2017 after two years of design and development. The product has two models: “Tough Series Rower” for commercial use and “Impact Series Rower,” a foldable model for home use that was commercially rolled out in July 2020. Its rowers have a smart resistance system, a 21.5-inch HD touchscreen display, and a quiet nylon belt. The key differentiating factor for Aviron from most other interactive fitness companies is its software, designed for a connected gaming experience via its built-in display. The software includes six different workout categories, including introductory workouts for amateurs, personalized workouts, and real-time competitions with other users.
  </p>
  <p>
    Aviron predominantly targets the business-to-business (B2B) market, such as hotels and apartment buildings, and has customers such as YMCAs and Gold's Gyms. The machine was launched in the business-to-consumer (B2C) market in July 2020 and has reportedly sold around 1,000 units as of January 2021. The home fitness machine, “Impact Series Rower,” is available for USD 2,199, Aviron membership costs USD 29 a month or USD 299 a year, which gives access to its user network, challenges, and other content for home users. The “Tough Series Rower” is priced at USD 2,499 plus a membership fee of USD 299 a year or a lifetime membership for USD 3,499. 
  </p>
  <p>
    In 2021, Aviron revealed that it achieved growth of 2,700% YoY in its paying subscriber base and a 700% YoY growth in revenue.
  </p>
  <p>
    <a href="https://sp-edge.com/updates/8717?industryIds=2">
      <u>In February 2022,</u>
    </a>
     Aviron raised CAD 23.6 million (USD 18.5 million) in a Series A funding round led by Stripes, for further product development, to expand its team, and to invest in inventory. 
    <u>Previously, i</u>
    <a href="https://sp-edge.com/updates/4835">
      <u>n August 2021, </u>
    </a>
    Aviron raised USD 4.5 million in funding for continued business growth, to meet the rising demand, and to further develop its gamified workout content.
  </p>
</div>


<div>
  <p>
    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">
      <u>“Hydrow Wave,”</u>
    </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.
  </p>
  <p>
    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. 
  </p>
  <p>
    <b>Key customers and partnerships</b>
  </p>
  <p>
    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.
  </p>
  <p>
    <b>Funding and financials</b>
  </p>
  <p>
    Hydrow achieved 3x year-over-year (YoY) revenue growth in 2021.
  </p>
  <p>
    <a href="https://sp-edge.com/updates/9187?industryIds=2">
      <u>In March 2022,</u>
    </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">
      <u>September 2021,</u>
    </a>
     the company raised an undisclosed amount, from celebrity investors. 
    <a href="https://sp-edge.com/updates/4671">
      <u>In August 2021,</u>
    </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). 
  </p>
</div>


Hydrow

<div>
  <p>
    Studio
    <b> </b>
    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.
  </p>
  <p>
    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.
  </p>
  <p>
    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.
  </p>
  <p>
  </p>
</div>


Studio

<div>
  <p>
    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).
  </p>
  <p>
    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.
  </p>
  <p>
    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.
  </p>
</div>


CityRow

<div>
  <p>
    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. 
  </p>
</div>


Carbon Trainer

<div>
  <p>
    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. 
  </p>
  <p>
    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.
  </p>
</div>


VOLAVA

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

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

Aviron Interactive

EDGE Insights

Andy Hoang, CEO of Aviron, on the unit economics of connected fitness

Recent Updates

Aviron Interactive raises CAD 23.6 million in Series A funding

Aviron raises USD 4.5 million

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