Fitness equipment sales in the United States reached $1.5 billion in 2021! Hydrow received $55 million in Series D financing!

It is learned that according to data from DNP Group: In 2021, sales of aerobic exercise equipment (including treadmills, stationary bikes, rowing machines, steppers and elliptical machines) in the United States totaled US$1.5 billion, an increase of 95% over 2019, but a decrease of 4% over 2020. However, sales of treadmills in the United States in 2021 increased by 5% over 2020. The data also showed that during the epidemic, American consumers' demand for aerobic exercise equipment increased significantly.

As the world's most well-known connected fitness manufacturer, Peloton's rapid development was driven by the closure of gyms during the epidemic. After the epidemic was brought under control, Peloton is seeking to readjust its operations to adapt to the slowdown in revenue. In the past 12 months, Peloton's stock price has fallen by nearly 80%, below its IPO price of $29, casting a shadow over the entire industry.

“While Peloton and the fitness equipment industry face headwinds, overall connected fitness penetration remains below 10% relative to the total addressable market, leaving tremendous room for growth,” said Bruce Smith, founder and CEO of Hydrow.

On March 17, rowing machine manufacturer Hydrow announced that it had raised $55 million in new funding in its Series D round of financing, bringing its total funding to more than $255 million to date. The funds will be used for marketing, brand building, and product innovation.

The Series D round was led by Massachusetts-based private equity firm Constitution Capital, with participation from L Catterton, RX3 Growth Partners, Liberty Street, Activant Capital and Sandbridge Capital.

It is learned that last June, Bloomberg reported that Hydrow was exploring an initial public offering or a merger with an acquisition company valued at more than $1 billion. In contrast, Peloton's market value has fallen from a high of around $50 billion at the beginning of 2021 to just over $7.9 billion. Hydrow declined to comment on its current valuation or listing plans. Hydrow also did not disclose its financial situation, but Hydrow said its revenue in 2021 increased three times from 2020.

Editor ✎Estella/

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