Legend Capital, the venture capital firm formed by conglomerate Legend Holdings, has co-led a $300m series B round for China-headquartered smart fitness equipment producer Fiture, DealStreetAsia reported today.
The round included Bertelsmann Asia Investments (BAI), a corporate venturing vehicle for media group Bertelsmann, as well as internet group Tencent and Nio Capital, the investment vehicle launched by electric carmaker Nio.
All-Stars Investment, DST Global and Coatue co-led the round with Legend Capital, and it was rounded off by Sequoia Capital China, C Ventures, BA Capital, Cygnus Equity, GSR Ventures and Z1 Capital.
Fiture provides intelligent home exercise equipment including an electronic mirror that transmits personalised exercise plans and nutrition advice as well as connecting to an onoien community of users.
The capital will be channelled into product development and the expansion of the company’s training offering. Its first funding was a $6m round in August 2019 led by Sequoia China.
Tencent led Fiture’s $65m series A round in October 2020, investing alongside BAI, Sequoia China, C Ventures, All-Stars Investment, BA Capital, Cathay Capital and CPE, a subsidiary of investment banking group Citic.
The company added more than $20m in a December series A-plus round co-led by Nio Capital, GSR Ventures and Z1 Capital.
Photo courtesy of Fiture.
