Expresso Fitness boosted by $6M
Expresso Fitness, maker of cardio gym equipment with interactive, virtual reality screens, has brought in $6 million in a fourth round of funding from Sierra Ventures, Physic Ventures, and Enterprise Partners Venture Capital, reports PE Hub. The Sunnyvale, Calif. company says it will use the new financing to add new features to its current products and to beef up its sales operations.
Expresso currently sells two types of stationary bikes — upright (which also comes in child-size) and recumbent. Both include an LCD screen programmed with different “tours” and routes designed to make the user feel like they are really on the road. These programs are matched with the difficulty and resistance of the actual exercise routine. For example, you will feel more resistance if you choose a course with a lot of hills. The bikes also include games where exercisers can earn points and compete against theor own personal bests — encouraging a better workout every time.
Expresso previously raised $34 million from the investors listed, as well as $7 million in working capital from Silicon Valley Bank. It also just named David Grenewetzki as president and chief executive officer.
Next Story: MySpace will expand iLike beyond music
Previous Story: YouTube, once a pirate, now legitimate: Signs deal with Time Warner
About the Author, Camille Ricketts
Camille is the lead writer for GreenBeat. She came to VentureBeat from Google where she worked on its traditional platforms team, particularly in TV. Before that, she was a reporter for the Wall Street Journal in New York and London. Follow her on Twitter at @camillericketts, and follow VentureBeat on Twitter at @venturebeat.
-
barbaraclarke
-
Jim
-
Name
-
Doc Johnson