VivaTech takes the stage as the world's leading event for tech and startups
19 Jun 2023 18:33
Chinese fitness room sharing start-up Misspao has raised 75 million yuan (about US$11 million) in Series A round financing, which was led by the National Small and Medium-size Enterprises Development Fund, co-invested by Matrix Partners China, ChinaEquity Group, Whales Capital and Lieying Capital.
The lead investor is a 15 billion fund co-founded by state-owned companies, private businesses, financing institutes and local governments. The new investment has added Misspao’s financing to 100 million yuan (about US $15 million) .
Misspao, founded in May 2017, is a Chinese start-up developing fully-automated mini fitness rooms. As of now, it has made a presence in 1,000 Beijing communities and 500 Shanghai communities with 100 facilities.
Each fitness room is equipped with one treadmill, air cleaner, solar power supply system and Internet-connected TV for entertainment. Users can rent a mini-gymnasium via mobile app by paying 0.2 yuan per minute.
According to Misspao, each of its mini-gymnasiums cost RMB 10,000 yuan. Each mini-gym can be used five to six hours per day, which means it can return a profit in 10 months through each gymnasium.
Source: bbtnews
Proofread by William Logsdon
Related coverage
Keep gains C+ strategic investment from Tencent
17 Aug 2016
Former NBA star to promote Sacramento Kings’ new arena in China
14 Mar 2016
Team China Racing invested in Motorsport.com LLC
27 May 2015
UCTC's subsidiary to buy into Beijing sports company for RMB150mn
17 Nov 2015
Alisports to raise 123.5 million Yuan in Series A financing
11 Apr 2017
More from Yutang Sports
SportAccord scores Summit touchdown with NFL
18 Jan 2024
Wiz-Team provides smart event management system for SportAccord 2024
14 Mar 2024
VivaTech takes the stage as the world's leading event for tech and startups
19 Jun 2023
Registration open - SportAccord World Sport & Business Summit
18 Dec 2023
Meet the world-class speakers on SportAccord’s Plenary sessions
23 Feb 2024
Yutang Sports
loading...