LeSports invest RMB 100m in smart fitness startup

LeSports has reportedly announced an RMB 100m(US$15.4m) investment in Bear Run (Chinese: 小熊快跑), an internet-based smart fitness company.

Bear Run was formerly a start-up project and split from the Chinese mobile social game platform PapayaMobile in April 2015.

The start-up launched its first smart gym in September 2015, and has now set up a franchise partner program and Bear Manager Enterprise Resource Planning System.

This Series B investment will enable Bear Run to continue to provide fitness packages for more than one million users, with over 3000 gyms in 8 cities across the country.

LeSports’s parent company LeEco is an active participant in the sports market. Last year, LeSports became the title sponsor of the former Wukesong Arena. Later, LeEco reached a strategic partnership deal with Beijing Guoan FC. What is more, early this year, the parent company announced that it had acquired the exclusive internet media rights to the Chinese Super League for the 2016 and 2017 seasons, which is worth up to RMB 2.7 billion.

Source: sports.online.sh.cn

Proofread by Sean O Diobhilin