Funding/Management news

• Tonal , a smart home exercise system manufacturer, has raised USD 130 million in funding led by L Catterton, Cobalt, Dragoneer, Kindred Ventures, and THVC. Tonal’s total funding now stands at USD 580 million. The company intends to utilize the funds toward strengthening its financial position and improving its profitability. It also announced that the company’s president, Krystal Zell, will be taking on the role of CEO, replacing Aly Orady (Tonal’s founder), who will transition to the role of chief technology officer. (April 10, 2023; Company press release , Bloomberg )

Product update

• Peloton , a connected bikes, treadmills, rowers, and fitness mirrors manufacturer, has launched “Peloton Rental,” its connected bike rental program, in Canada. Users will be able to rent on a monthly basis starting from CAD 129 (~USD 95) per month for the original Peloton Bike and CAD 169 (~USD 124) per month for the Peloton Bike+. The monthly rental fees include the subscription fee of Peloton Membership, which provides access to Peloton’s entire library of live and on-demand classes, and all rental users are eligible for free returns at any time. (April 25, 2023; Company press release , The Star ).