The gaming craze and at-home fitness come together in Ergatta’s rowing machine.
The connected rowing company gamifies workouts, with its machine effectively acting as a controller, allowing people to race and compete on a screen as they work out.
Just a month after its first birthday, the startup raised $30 million at a $200 million valuation in a Series A round led by Advance Venture Partners. The company will use the funds to create new games, develop live competitions, and grow its membership base and supply chain.
Other connected rowing machines have attracted investor attention as well, though Ergatta’s competitors generally follow Peloton in offering live classes with instructors.
- LIT Method, whose machines cost $1,750 plus a $25/month subscription fee, announced an investment this week from Jay-Z’s Marcy Venture Partners.
- Last June, connected rowing startup Hydrow raised $25 million in a round led by L Catteron, a private equity firm backed by LVMH. Hydrow’s machines cost $2,199.
An Ergatta machine also costs $2,199, and subscriptions run $29 per month.