Exclusive: Ergatta Lands $5M Seed Round To Advance Connected Rower
Summary
The 1-year-old company, based in Brooklyn, released its rower in March and quickly sold out its inventory, Tom Aulet, co-founder and CEO of Ergatta, told Crunchbase News. Greycroft led the round, joined by an investor group that includes Techstars, Mark Pincus, Scott Dorsey, Steve Simon, Zach Weinberg, Nat Turner, Chamillionaire, E-40, Joe Zawadzki, Erich Wasserman, Water Rower and Gaingels. The global connected gym equipment market is poised to be worth $5.96 billion by 2025, according to Grand View Research, and is seeing a lot of activity. Last month, we covered Lululemon’s acquisition of Mirror, a startup whose mirror-like response display product streams live and on-demand classes to in-home users. Content is the key to winning that space, and our vision is that working out should feel more like playing a sport than taking a class or having a one-on-one with an instructor.”