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
Desports cooperated with top European sports broker company
04 Jul 2015
Opportunities and challenges facing Chinese youth in sports training
31 Oct 2017
Martin Lee: Maximizing the commercial value of Newcastle Jets
06 Jul 2016
23 Oct 2014
Sports industry in Shanghai worth RMB 104.6 billion in 2016
25 Sep 2017
More from Yutang Sports
Leading legal minds tackle athlete representation and rules for transgender athletes at LawAccord
16 Feb 2024
Meet the world-class speakers on SportAccord’s Plenary sessions
23 Feb 2024
Discover the SportAccord Summit sessions!
31 Jan 2024
VivaTech takes the stage as the world's leading event for tech and startups
19 Jun 2023
Squash will be significantly boosted by LA28 inclusion
17 Apr 2024
Yutang Sports
loading...