Shasta Ventures invests in startups in sectors. Their program consists of a proven methodology and a set of comprehensive playbooks that dive deep into the obstacles and challenges of early-stage startups. There is no one-size-fits-all when it comes to early-stage, so this agile program allows founders to tap into the resources they need when they need them.

Shasta Ventures

Novator is an alternative investment firm founded and led by the international investor and entrepreneur Thor Bjorgolfsson.  Novator's investment portfolio is focused around following sectors: Telecommunications, Pharmaceuticals, IT and Renewable Energy. In addition, Novator operates a Private Equity Fund and a Credit Opportunities Fund.  Novator focuses on developing strong management teams in each of its portfolio companies.  While granting them the autonomy to create value, Novator maintains a supervisory role, principally through representation on the Boards of its investee companies.   Novator differentiates itself from many other private equity companies in concentrating on complex situations, either by virtue of their structure or their cross-border nature. To create value, Novator undertakes the restructuring or ''de-risking'' of investment opportunities through re-financing, combining acquired assets with existing businesses, through sale to strategic or financial buyers, or through flotation.   Novator's investment portfolio is focused around four main sectors:Telecommunications, Pharmaceuticals, IT and Renewable Energy.

Novator

Waypoint is the business enterprise for the managers and advisers associated with the Bertarelli family. Their history is that of a family of entrepreneurs and today that spirit lives on in a diversified range of business interests.

Waypoint Capital

Highland Europe invests in rapidly growing European internet, mobile, and software companies that address large market opportunities and have over €10 million in annualized revenues. They can provide acquisition finance or lead secondary transactions as well as making primary investments. Their capital enables management teams to accelerate growth and build a lasting, valuable business. Highland Europe was launched in 2012 and closely collaborates with Highland Capital Partners, an independent global venture capital firm with a twenty-seven year investment experience and offices in Boston and Palo Alto.

Highland Europe

Causeway Media Partners is an investment fund focused on sports media, sports technology, and related companies. Targeting growth equity and venture capital stage organizations, Causeway is committed to forging long-term partnerships and supporting management teams in their growth years. Causeway leverages its teams' decades of success to help structure, execute, and monetize its investments.

Causeway Media Partners

Ion Pacific invests creative capital in the technology sector to galvanize opportunities, connect markets and tackle the challenges of building a great business. As the technology sector has grown and matured, venture capital LPs, GPs, corporate venture capital funds and technology companies face new challenges that require creative capital solutions. Ion Pacific has a blindpool venture capital structured secondaries fund. Ion Pacific was founded in 2015 and has offices in Hong Kong, New York City and Europe

Ion Pacific

True invests in consumer businesses that are changing the way people live through its funds dedicated to investing in innovators and those who are reimagining their industries. Investing up to £100 million, through its private equity fund — is only one part of what True does for its partners. True is a value-add investor that nurtures brands supporting them with everything from access to emerging technologies, to extraordinary collaboration opportunities from across True's community.  True also invests between £100k and £5m in digital-first, breakout brands that represent the future of consumer behaviour when they’re at pre-seed to Series A stage. We also invest in the retail and consumer technologies which will enable consumer progress — and disrupt the way business has been done to date.

True.

Kohlberg Kravis Roberts is an investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, credit, and, through its strategic partners, hedge funds. The company generates investment returns for its fund investors through a patient and disciplined investment approach, employing people, and driving growth and value creation with KKR portfolio companies. The company invests its own capital alongside the capital it manages for fund investors and delivers financing solutions and investment opportunities through its capital markets business. The firm has completed more than two-hundred-eighty private equity investments in portfolio companies with approximately $545 billion of total enterprise value as of June 30, 2017. Assets Under Management (“AUM”) and Fee Paying Assets Under Management (“FPAUM”) were $153 billion and $114 billion, respectively as of September 30, 2017. Jerome Kohlberg, Jr. and cousins Henry Kravis and George R. Roberts, all of whom had previously worked together at Bear Stearns, where the three completed some of the leveraged buyout transactions founded the company. Kohlberg Kravis Roberts has completed a number of transactions including the 1989 leveraged buyout of RJR Nabisco, which was a large buyout in history to that point, as well as the 2007 buyout of TXU, which is currently also a large buyout completed to date since its founding. Kohlberg Kravis Roberts has offices in 21 cities in 16 countries across 5 continents. The firm is currently headquartered in the Solow Building, New York, but in October 2015, the firm announced its intentions to occupy a newly constructed 30 Hudson Yards. In October 2009, Kohlberg Kravis Roberts listed shares in the company through KKR & Co., an affiliate that holds 30% of the firm's ownership equity, with the remainder held by the firm's partners. Kohlberg Kravis Roberts filed to list its shares on the New York Stock Exchange (NYSE) in March 2010, with trading commencing four months later, on July 15, 2010.

Kohlberg Kravis Roberts

Permira is a global investment firm that multiplies the potential of companies and people to build successful businesses with growth ambitions. Founded in 1985, the firm applies a thematic approach across two core asset classes – Private Equity and Credit – with a focus on growth in four key sectors: Technology, Consumer, Healthcare, and Services. Permira employs over 450 people in 16 offices across Europe, North America, and Asia.

Permira

The Amazon Alexa Fund is Amazon’s venture capital fund investing in artificial intelligence, frontier tech, voice, robotics, and digital health across consumer and enterprise. We invest in early- to growth-stage companies globally. To learn more, visit us at alexafund.com.

Amazon Alexa Fund

Zone 5 Ventures was founded on the belief that innovation in sports and fitness technology will change lives and improve the world we live in. And we know that there are entrepreneurs out there with that same mission and belief. Entrepreneurs with brilliant ideas and ground-breaking technologies that will transform the athletic experience. We want to partner with them on their journey.

Zone 5 Ventures

Illusian is a Family Office founded in 2014 by Ilkka Paananen, entrepreneur, investor, co-founder and CEO of Supercell, the global leader in mobile games. They support founders and makers who shape society through technology and create impact at scale. Their mission is to unleash the potential of European entrepreneurship to solve the world’s biggest problems. Illusian's activities consist of three pillars: investing, philanthropy, and family services. They often partner with leading venture capital funds to help bring their vision to life.

Illusian Family Office

Zwift

Zwift is a provider of an interactive fitness platform used to transform monotonous solo indoor cycling and running workouts into dynamic and social adventures. Its platform connects users to physical indoor trainers so that cyclists can pedal inside while immersed in any number of virtual landscapes on a screen in front of them that enable users to join in rides together with friends. Zwift uses gaming technology to bring the outdoor experience indoors, making at-home exercise fun, and engaging. It promotes social experience by connecting cyclists and runners in 3D computer-generated platform. Users of the Zwift platform interact, train, and compete together by wirelessly pairing a bike trainer or treadmill to the Zwift app, to power their in-game avatars. Zwift was launched in 2014 by Alarik Myrin, Eric Min, Jon Mayfield, and Scott Barger and is headquartered in Long Beach, California.

<div><p>Zwift is a startup that develops and hosts virtual cycling races and manufactures connected fitness equipment/hardware. With the Zwift virtual environment, users can ride in groups and participate in races. Users can access and take part in Zwift with a basic set of hardware as a trainer, a bike, and a computer, while for more professional cyclists, heart rate monitors, speed and cadence sensors, and power meters are recommended to enhance the experience. </p></div>

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

Connected Fitness

<div><p>Zwift is a provider of an interactive fitness platform used to transform monotonous solo indoor cycling and running workouts into dynamic and social adventures. Its platform connects users to physical indoor trainers so that cyclists can pedal inside while immersed in any number of virtual landscapes on a screen in front of them that enable users to join in rides together with friends. Zwift uses gaming technology to bring the outdoor experience indoors, making at-home exercise fun, and engaging. It promotes social experience by connecting cyclists and runners in 3D computer-generated platform. Users of the Zwift platform interact, train, and compete together by wirelessly pairing a bike trainer or treadmill to the Zwift app, to power their in-game avatars. Zwift was launched in 2014 by Alarik Myrin, Eric Min, Jon Mayfield, and Scott Barger and is headquartered in Long Beach, California.</p></div>

Sports Tech

<div>
  <p>
    Zwift is a startup that develops and hosts virtual cycling races and manufactures connected fitness equipment/hardware. With the Zwift virtual environment, users can ride in groups and participate in races. Users can access and take part in Zwift with a basic set of hardware as a trainer, a bike, and a computer, while for more professional cyclists, heart rate monitors, speed and cadence sensors, and power meters are recommended to enhance the experience. 
  </p>
  <p>
    In March 2021, Zwift announced 
    <a href="https://sp-edge.com/updates/215">
      <u>plans to launch three at-home fitness hardware models</u>
    </a>
     produced by Chinese manufacturing partners and distributed them to customers worldwide. Later, in January 2022, 
    <a href="https://sp-edge.com/updates/7541">
      <u>Zwift launched two new products,</u>
    </a>
     Zwift Wheel (a direct-drive smart trainer) and Zwift Ride (a smart bike) entering the connected fitness product space. Zwift Wheel features virtual shifting protocols, a wireless game controller for steering, braking, and other controls, and it can also be transformed into a Zwift smart bike or users’ own bicycle by adding on the wheels. It charges USD 14.99 (CAD 18.99 / YEN 1,650 /EUR 14.99) per month for users to access workout content on its virtual platform.  
  </p>
  <p>
    <a href="https://sp-edge.com/updates/171">
      <u>In September 2020,</u>
    </a>
     the startup raised USD 450 million, led by the private equity firm KKR, in a Series C funding round and was valued at more than USD 1 billion after funding. These funds would be utilized to introduce its own hardware and expand its coverage by introducing other gamified sporting activities. 
  </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

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

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

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

<div>
  <p>
    Zwift is a provider of an interactive fitness platform used to transform monotonous solo indoor cycling and running workouts into dynamic and social adventures. Its platform connects users to physical indoor trainers so that cyclists can pedal inside while immersed in any number of virtual landscapes on a screen in front of them that enable users to join in rides together with friends. Zwift uses gaming technology to bring the outdoor experience indoors, making at-home exercise fun, and engaging. It promotes social experience by connecting cyclists and runners in 3D computer-generated platform. Users of the Zwift platform interact, train, and compete together by wirelessly pairing a bike trainer or treadmill to the Zwift app, to power their in-game avatars. Zwift was launched in 2014 by Alarik Myrin, Eric Min, Jon Mayfield, and Scott Barger and is headquartered in Long Beach, California. 
  </p>
</div>


<div>
  <p>
    Hexoskin makes smart clothing for health, fitness, and wellness. The Hexoskin Bluetooth connected garments make your health status sharable online in real-time and enable digital health and predictive health analytics. www.hexoskin.com
  </p>
</div>


Hexoskin

<div>
  <p>
    The Athos mission is to help athletes train more effectively and reach their performance goals faster. Athos does this by bringing together the most relevant data and exercise science to deliver simple, actionable insights that allow coaches and athletes to get the most out of their training.
  </p>
</div>


Athos

<div>
  <p>
    Atavus combines sports analytics and coaching philosophy to measure and improve the performance of players, coaches, and teams. Atavus combines sports innovative curriculum and actionable data with analysis from successful and experienced coaches.
  </p>
</div>


Atavus

<div>
  <p>
    AllPlayers.com is a leading provider of PCI and COPPA compliant online registration, member management, and integrated financial solutions, serving industry leading SaaS providers in the sports, education, faith-based, and other recreational market segments. The AllPlayers cloud-based, open architecture platform is designed to integrate seamlessly into third party SaaS providers through an extensive API, webhooks, and embedded framework to compliment their existing suite of services.  AllPlayers.com, Inc. was founded in 2009, and is located in Dallas, TX.
  </p>
</div>


Rank One Sports

<div>
  <p>
    TeamSnap is a sports and group activity management platform. The App coordinates communication between coaches, administrators, players, and parents. TeamSnap offers services to clubs, leagues, and associations with multiple teams, including registration, payment collection, rostering, and scheduling; enables team registration for tournaments and game scheduling with real-time updates; allows teams to coordinate schedules and activities with reminders, team chats; share real-time game moments and photos; and enables self-assessments to meet health requirements. TeamSnap supports 100+ sports and activities such as baseball, basketball, ice hockey, football, soccer, and softball.
  </p>
</div>


TeamSnap

Used by platforms to simulate real game scenarios in training

Used by platforms to spot trends in tactics, athlete performance, and training

Some solutions in the "team and league management platforms" segment operate a B2B SaaS model

Some stadium tech solutions and training support/performance analytics solutions offer a certain level of personalization

Platforms and devices that aid the training process and/or measure player statistics and other metrics, such as health and movement data, to improve player performance

Zwift

EDGE Insights

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

Company Brief

Funding

Investors

About EDGE

Contact Us

Resources

Area of Focus

Technology Research Made Effortless