The upsurge of home fitness brought by the epidemic is still continuing, and the market war of home fitness equipment is increasingly fierce.
On April 19, local time, front office sports reported that tempo, an American home fitness company, had completed the round C financing of US $220 million. This round of financing was led by Softbank group, a Japanese venture capital giant, followed by steadfast capital, and added by BLING capital, DCM, general catalyst and northwest venture partners.
Founded in 2016, tempo focuses on high-end home intelligent fitness equipment. According to its official website, tempo is the first intelligent fitness brand that uses 3D motion tracking sensors and artificial intelligence systems to provide users with instant feedback.
In February 2020, tempo launched its main product tempo studio for the first time. Tempo studio smart home fitness equipment package includes barbell, dumbbell and other equipment and a 42 inch touch screen shaped like a floor mirror. At the same time, tempo also provides users with video guidance, live lectures and other content services, with a monthly subscription fee of $39.
In addition to displaying the user’s real-time heart rate and how many calories burned, tempo’s touch screen is also equipped with a 3D motion tracking sensor system, which can track the user’s motion and remind him of action errors. At the same time, the artificial intelligence system can generate a 3D model of the user’s body with 80000 different joint points, and simplify it into 25 “key points” to reflect the user’s fitness actions. During the use, the system will feed back the user’s action errors detected by the scan to the coach to help the coach give action guidance.
However, the development of tempo, which focuses on high-end intelligence, is not smooth sailing.
After the seed round raised US $1.8 million, tempo was forgotten by the capital market for four years. It was not until the COVID-19 epidemic spread in 2020 that tempo just launched tempo studio to catch up with the continuous popularity of the home fitness market that tempo ushered in a turnaround and regained the favor of capital.
Since the launch of smart home fitness equipment package and open subscription service in 2020, tempo has not only increased its revenue by 10 times, but also completed round a financing of US $17.5 million and round B financing of US $60 million. In addition to the US $220 million of this round C financing, the total financing amount of tempo has accumulated US $300 million.
In addition to tempo, American home fitness star peloton’s stock price continued to fall, but its sales in the latest second quarter increased by 128% year-on-year. Intelligent home fitness company tonal announced on March 31 that it had completed financing of $250 million. Mirror, the “elder” of intelligent fitness mirror, attracted lululemon to spend $500 million last year.
In China, the intelligent fitness mirror company fiure recently completed the round B financing of 300 million US dollars, setting the highest round B financing amount in the global sports and fitness field, and the smart home fitness market is hot.
However, compared with competitors in the same field, tempo’s course content is not rich, which is also the pain point of tempo under the general trend of “content is king”. Unlike mirror and other companies that offer yoga, aerobics, strength shaping, Pilates and other courses, tempo is more focused on “iron rolling” and most of the courses provided are Barbell Weight Training.
It is reported that tempo plans to use round C financing to continue its research and development of artificial intelligence and 3D sensor signboard technology, while increasing content research and development and expanding course categories.
Post time: Aug-07-2022