Germany-based fitness equipment producer eGym raised $15m on Monday in a funding round featuring High-Tech Gruenderfonds, the German state and corporate-backed early-stage investment company.
Venture capital firm Highland Capital Partners Europe led the round, which also included Bavarian state-backed fund Bayern Kapital.
eGym develops, builds and sells technology products for the fitness market, including equipment training app eGym Premium, launched in April, and personal fitness website eGym.de, where exercise results can be stored allowing users to monitor their progress.
The company, which operates across Germany, Austria, Switzerland and the Netherlands, will use the funding to support product development and further international expansion.
Irena Goldenberg, a partner as Highland Capital Partners, will now join the eGym board of directors as chair of the board.