Copen\u00adha\u00adgen, Denmark \u2014 London-based SME growth inves\u00adtor Magenta Part\u00adners today announ\u00adced that it has led a major Series A funding round for Moto\u00adsumo, a fast-growing at-home indoor cycling plat\u00adform that offers live inter\u00adac\u00adtive clas\u00adses from any bike. Magenta led the finan\u00adcing round with parti\u00adci\u00adpa\u00adtion from exis\u00adting investors.<\/p>\n
Tom Matthews, mana\u00adging part\u00adner of Magenta, says their exten\u00adsive evalua\u00adtion iden\u00adti\u00adfied Moto\u00adsumo as a unique offe\u00adring in a crow\u00added market. \u201cOur team of experts has reviewed nume\u00adrous soft\u00adware and hard\u00adware plat\u00adforms in the Connec\u00adted Fitness space over the past 18 months. We believe Moto\u00adsumo is an outstan\u00adding offe\u00adring capa\u00adble of leading the evolu\u00adtion in the home fitness market. It is the only plat\u00adform of its kind that is hard\u00adware agno\u00adstic, which opens up signi\u00adfi\u00adcant growth oppor\u00adtu\u00adni\u00adties across geogra\u00adphies,\u201d said Matthews, whose team at Magenta has an exten\u00adsive back\u00adground in fitness, inclu\u00adding previous invest\u00adments in LA Fitness, The Gym Group, Pure Gym and Viva Gym.<\/p>\n
Moto\u00adsumo, a Danish fit-tech company foun\u00added in 2015, offers a global program of live indoor cycling clas\u00adses with world-class instruc\u00adtors. Moto\u00adsumo\u2019s inno\u00adva\u00adtive tech\u00adno\u00adlogy means users can join the plat\u00adform from home, with any bike and a cell phone or tablet. Even the simp\u00adlest setup can be connec\u00adted to enjoy a fully inter\u00adac\u00adtive class.<\/p>\n
With subscrip\u00adti\u00adons start\u00ading at just $12.99 per month, Moto\u00adsumo offers an afforda\u00adble alter\u00adna\u00adtive to the many expen\u00adsive play\u00aders in the market that require consu\u00admers to purchase equip\u00adment and wait weeks for deli\u00advery to get started.<\/p>\n
\u201cImme\u00addiate access, an inter\u00adac\u00adtive expe\u00adri\u00adence and global reach are important factors for growth, and Moto\u00adsumo has all three,\u201d says Moto\u00adsumo co-foun\u00adder and CEO Kres\u00adten Juel Jensen. \u201cOur plat\u00adform works with any bike, so users don\u2019t have to invest in new equip\u00adment and can access a work\u00adout imme\u00addia\u00adtely. Moto\u00adsumo cour\u00adses include inter\u00adac\u00adtive games with live fitness metrics, and our trai\u00adners inter\u00adact with parti\u00adci\u00adpants in real time. We are exci\u00adted about the part\u00adner\u00adship with Magenta. Their invest\u00adment and stra\u00adte\u00adgic vision and support will help drive our expe\u00adri\u00adence and expansion.\u201d<\/p>\n
\u201cEven before the COVID pande\u00admic, consu\u00admer demand for home exer\u00adcise opti\u00adons was growing. The past year has drasti\u00adcally chan\u00adged the land\u00adscape of the fitness indus\u00adtry. Connec\u00adted fitness at home has become a major bene\u00adfi\u00adci\u00adary, and Moto\u00adsumo was alre\u00adady ahead of the curve and uniquely posi\u00adtio\u00adned to drive rapid adop\u00adtion of our home exer\u00adcise solu\u00adtion,\u201d said Juel Jensen.<\/p>\n
This round of Series A funding will allow Moto\u00adsumo to double the number of its trai\u00adners on four conti\u00adnents (Europe, North America, Asia and Austra\u00adlia), expand its tech\u00adni\u00adcal team and signi\u00adfi\u00adcantly increase its marke\u00adting efforts. Magenta typi\u00adcally invests between GBP5 million and GBP20 million in each oppor\u00adtu\u00adnity. Your invest\u00adment in Moto\u00adsumo is the first step in a possi\u00adble long-term, working partnership.<\/p>\n
Magenta Mana\u00adging Part\u00adner Chase Emson alre\u00adady makes Moto\u00adsumo clas\u00adses part of his daily work\u00adout at home, \u201cMoto\u00adsumo is a fanta\u00adstic expe\u00adri\u00adence. It is the only real live and inter\u00adac\u00adtive offer for those who have an indoor bike at home. Having taken some of the clas\u00adses, I can say from perso\u00adnal expe\u00adri\u00adence that Moto\u00adsumo is fun and enter\u00adtai\u00adning \u2014 and I\u2019m most exci\u00adted about the results I\u2019m getting from my trai\u00adning,\u201d Emson said.<\/p>\n
Inves\u00adtors in Moto\u00adsumo from previous rounds include Danish venture capi\u00adtal fund Prom\u00aden\u00adtum Equity Part\u00adners <\/strong>and PreSeed Ventures<\/strong>, one of Denmar\u00adk\u2019s largest inno\u00adva\u00adtion incubators.<\/p>\n About Moto\u00adsumo<\/strong><\/p>\n Moto\u00adsumo is a live inter\u00adac\u00adtive plat\u00adform for home cycling cour\u00adses that works with any statio\u00adnary bike. The company was foun\u00added by a Danish team of engi\u00adneers and astro\u00adphy\u00adsi\u00adcists who harnes\u00adsed the power of smart\u00adphone motion sensors to gene\u00adrate live fitness metrics, such as cadence, on each bike. They deve\u00adlo\u00adped an app to make a fun, inter\u00adac\u00adtive work\u00adout and commu\u00adnity expe\u00adri\u00adence acces\u00adsi\u00adble to almost anyone. Early on, Moto\u00adsumo became a popu\u00adlar main\u00adstay in gyms and fitness centers. In response to the growing demand for at-home work\u00adout opti\u00adons, Moto\u00adsumo has evol\u00adved the plat\u00adform for indi\u00advi\u00addual users and part\u00adne\u00adred with a network of world-class trai\u00adners to create a global offe\u00adring of daily live clas\u00adses. For just $12.99 per month, anyone can enjoy the same intense, inter\u00adac\u00adtive fitness expe\u00adri\u00adence at home. To turn any bike into a world-class work\u00adout expe\u00adri\u00adence, visit www.motosumo.com.<\/p>\n About Magenta Partners<\/strong><\/p>\n Magenta Part\u00adners LLP is a UK-based private equity advi\u00adsory firm foun\u00added in 2008, specia\u00adli\u00adzing in entre\u00adpre\u00adneur-led growth invest\u00adments. Since its incep\u00adtion, Magenta has inves\u00adted in consu\u00admer-focu\u00adsed compa\u00adnies such as Pure Gym, JoJo Maman Bebe, Maker&Son and North Ameri\u00adcan Guitar Company. A criti\u00adcal element of Magen\u00adta\u2019s invest\u00adment style is the ability to work with manage\u00adment teams to achieve alignment around a common goal. Magenta funds are backed by successful entre\u00adpre\u00adneurs, and the manage\u00adment team itself brings expe\u00adri\u00adence in running and growing successful venture-backed compa\u00adnies. www.magentapartners.com<\/p>\n Prom\u00aden\u00adtum Equity Partners<\/strong><\/p>\n Prom\u00aden\u00adtum Equity Part\u00adners is a Danish private equity fund estab\u00adlished in 2016 as a colla\u00adbo\u00adra\u00adtion between Prom\u00aden\u00adtum Capi\u00adtal and Alter\u00adna\u00adtive Equity Part\u00adners. www.promentumequity.dk<\/p>\n PreSeed Ventures<\/strong><\/p>\n For more than two deca\u00addes, PreSeed Ventures has scou\u00adted, mento\u00adred and funded Danish success stories such as Vivino, Trust\u00adpi\u00adlot and Lunar. www.preseedventures.dk<\/p>\n","protected":false},"excerpt":{"rendered":" Copen\u00adha\u00adgen, Denmark \u2014 London-based SME growth inves\u00adtor Magenta Part\u00adners today announ\u00adced that it has led a major Series A funding round for Moto\u00adsumo, a fast-growing at-home indoor cycling plat\u00adform that offers live inter\u00adac\u00adtive clas\u00adses from any bike. Magenta led the finan\u00adcing round with parti\u00adci\u00adpa\u00adtion from exis\u00adting inves\u00adtors. Tom Matthews, mana\u00adging part\u00adner of Magenta, says their [\u2026]<\/p>\n","protected":false},"author":2,"featured_media":37048,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wp_typography_post_enhancements_disabled":false,"footnotes":""},"categories":[886,1364,1366,1369,1373],"tags":[],"class_list":["post-43439","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general-en","category-featured-en","category-news-en","category-investors","category-venture-capital-en","news-category-venture-capital-news"],"yoast_head":"\n