China-based gym brand Supermonkey has raised a nine-figure renminbi (RMB100m = $15m) sum in a series C round backed by Fosun RZ Capital, the corporate venturing arm of conglomerate Fosun.
Jiansheng Sports Fund, a vehicle formed by venture capital firm Sequoia Capital China and private equity and VC firm China Media Capital, led the round, which also included VC firm Ventech China and Arena Capital.
Founded in 2014 as a single gym, Supermonkey now operates a range of about 30 unmanned indoor and outdoor gyms in the cities of Beijing, Shanghai and Shenzhen that are open 24 hours a day, allowing users to book appointments through messaging platform WeChat.
The series C capital will be used for an expansion initiative the company hopes will take the number of its locations to 100 sometime in 2018.
Fosun RZ Capital had previously invested an undisclosed eight-figure renminbi amount in Supermonkey in 2016 before joining Ventech China and Areana Capital for the company’s $7.6m series B round in February this year, according to China Money Network.