Keep: Social fitness app bags $80m Series E as Covid-19 lockdown fuels demand for virtual gyms

China

5 min read

Jun 15, 2020

By Liu Wei

Image: Shutterstock

Keep becomes China’s first sports tech unicorn as number of fitness app users in the country almost doubled to 89m amid home confinement and gym closures

In China, more than 89m people took to using fitness apps during the Covid-19 lockdown in February – almost doubling from a year ago. The most popular fitness app, Keep, alone posted a 60% surge in daily active users to over 6m. The startup is now China’s first sports tech unicorn, after raising $80m in a Series E funding round led by Jeneration Capital, with participation from existing investors including GGV Capital and Tencent.
Even before the pandemic turned virtual fitness training and workouts into the new normal, China was already experiencing a boom in the fitness market. According...

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Edited by Suzanne Soh, Wang Xiao'e

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