VivaTech takes the stage as the world's leading event for tech and startups
19 Jun 2023 18:33
A self-service gym based on a sharing-economy model, Misspao, has announced it has raised tens of millions in RMB funding in recent days, which has allowed the company to be valued at over RMB100m (US$15m). This investment was led by Matrix Partners China, ChinaEquity Group and Whales Capital.
Founded in July 2017, Misspao has set up 4-square-meter self-service gym pods which can host 1 to 2 people each and contains exercise equipment such as a treadmill. As for the gyms’ locations, Misspao is more likely to install them within communities.
“Up to now, sharing-economy services are still targeting the commercial areas, schools and campus, which allows uptown to remain as a ‘blue ocean’,” said Bi Zhen, Founder of Misspao. “People living uptown need to go out to exercise, so self-service gyms can be the most effective approach for them.”
Bi Zhen also explained the fitness demand in Beijing. According to Misspao’s market research into Beijing’s fitness market, 10% of white-collar workers have purchased a fitness service. However, not all of them can go to the gyms regularly. On the other hand, 95% of people they interviewed want to improve their fitness but some of them have no access to gyms and equipment. As a result, Bi thinks Misspao can address this problem by setting up their gym pods in uptown residential communities.
Source: sohu
Proofread by Raymond Fitzpatrick
Future of Sport: a resounding success for the Global Sports Week and Viva Technology collaboration
21 Jun 2023 12:27
Related coverage
China will deepen cooperation with the UK in sports industry
10 May 2017
CSL Broadcast Rights Holder invests in TVLB
16 Dec 2015
Beijing iRena debuts on New Three Board
16 Nov 2015
Wanda Sports to host first Ironman event in China
28 Dec 2015
White Paper: Chinese Sports Industry Trends & Popularity of Sports Consumption in China
20 Apr 2017
More from Yutang Sports
SportAccord Bronze Partners Make Their Mark on Global Stage
08 Mar 2024
Discover the SportAccord Summit sessions!
31 Jan 2024
Interview with Nicolas Maurer: Becoming Mainstream and at the Forefront of French Esports Industry
04 Oct 2023
SportAccord scores Summit touchdown with NFL
18 Jan 2024
IWGA to confirm the World Games host
11 Apr 2024
Yutang Sports
loading...