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Tuesday, April 23, 2024
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Aviron Joins Rowing Machine Craze with $18.5M Raise

  • Aviron raised $18.5 million in a Series A funding round.
  • The company produces rowing machines and offers workout games for a subscription.
Aviron/Design: Alex Brooks

Gamified fitness company Aviron is pushing into the increasingly crowded connected rowing space with a $18.5 million fundraise.

The Series A round was led by Stripes and joined by Global Founders Capital, Formic Ventures, and 24-Hour Fitness founder Mark Mastrov.

The company’s rowing machines offer gamified workouts through multiplayer video games, as well as group workouts and scenic workouts, for a subscription.

  • The company, founded in 2019, raised $4.5 million in August 2021 from Samsung Next, Formic Ventures, GFC and Y Combinator.
  • In addition to Aviron’s own content, it now allows users to stream Netflix, Hulu, and YouTube on their rowing machines.

“The connected fitness industry has done a great job of challenging the norm of at-home gym equipment with sleeker and more high-tech experiences, but most of these experiences, connected rowing included, focus on bringing the boutique studio instructor-led experience to homes,” Aviron founder and CEO Andy Hoang told Front Office Sports. 

“This didn’t resonate with me personally, and it’s why I built Aviron as a gaming-led rowing platform.”

Rowing Wave

Rowing machines have established a prominent role in the at-home fitness industry.

In April 2021, gamified rowing company Ergatta raised $30 million at a $200 million valuation, and LIT Method announced an investment from Jay-Z’s Marcy Venture Partners.

In July, CITYROW raised $12 million. Hydrow said it was in talks to go public through a SPAC merger at a valuation north of $1 billion.

Peloton plans to release a rowing machine, perhaps as soon as May.

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