Inveready is a leading alternative asset manager in Spain - investing in early-stage VC, growth VC, venture debt, strategic equity in listed companies, infrastructure and private equity - providing financing solutions to companies throughout their life-cycle.  Founded in 2008, Inveready counts on 177 active companies, 61 exits and more than €1bn of assets under management.  Some of our portfolio companies have been acquired by multinationals such as Intel, Symantec, IBM, and Facebook, whilst others are listed in public markets such as NASDAQ, the Spanish BME Growth, AIM London, and Euronext Growth. (visit www.inveready.com for more information)

Inveready

The Crowd Angel is a premium equity crowdfunding platform that enables its users to invest from 3.000€ in a selection of the best Spanish startups. A hybrid between crowdfunding and venture capital, it takes an active part on the board of the companies invested. The platform opens the business angel model to people wanting to enter the startup ecosystem. We have co-invested together with some of top Spanish VCs (Inveready, Keyword VC, Antai Venture Builder, Media Digital Ventures, Bankinter, etc). We are backed by Inveready and Keyword VC.

The Crowd Angel

Wayra is a globally connected and technological open innovation hub in the world.  We currently operate in  10  countries: Argentina, Brazil, Chile, Colombia, Germany, Mexico, Peru, Spain, the United Kingdom, and Venezuela. Through Telefónica our global presence allows us to be at the helm of innovation, shoulder to shoulder with driven entrepreneurs and in a position to engage the right partners and leaders of industries for business. Our mission is clear, to connect innovators with Telefónica and generate joint business opportunities. We are the interface between Telefónica and entrepreneurial ecosystems across the globe because innovation makes good business sense.

Wayra

JME Venture Capital is an early-stage investment fund based in Madrid and Barcelona. The company was established in 2009 and is based in Madrid, Spain.

JME Ventures

VOLAVA

Volava is a fitness platform that brings the energy and benefits of studio-style workouts to the convenience and comfort of home. It is a connected, technology-enabled fitness boutique. It also makes fitness entertaining, approachable, effective, and convenient, while fostering social connections and building a community around wellness.  Volava was founded in 2017 and is headquartered in Barcelona, Spain.

<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></div>

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

Connected Fitness

<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>


<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

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 exercise bikes, 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 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.

VOLAVA

Connected Fitness

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Volava raises EUR 2 million in seed funding

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