Munich – eGym GmbH, a Munich-based manufacturer of intelligent fitness equipment, has completed its Series C round of financing and raised USD 45 million. The fitness start-up gained HPE Growth Capital as lead investor in addition to existing investors Highland Capital Partners, High-Tech Gründerfonds and Bayern Kapital.
A team headed by lead partner Stefan-Ulrich Müller advised eGym GmbH on all legal aspects of preparing, negotiating and implementing the transaction. This is the second time that eGym GmbH has relied on the expertise of CMS lawyers, who also successfully advised the company on the last financing round.
eGym GmbH makes smart fitness equipment that is connected to the cloud. The equipment adjusts automatically to the individual user. Users can track and analyse their training on the Internet or with the aid of an app. The start-up currently sells its products in nine countries. The new capital is earmarked for establishing the company in the US market.
CMS Hasche Sigle
Stefan-Ulrich Müller, Lead Partner
Dr Tobias Kallmaier, both Corporate
Stefan Lehr, Competition & EU