Hotel giant China Lodging leads funding into shared fitness startup ParkBox
In addition to product development, the fund raised will help extend ParkBox capsule gym from communities to China Lodging's hotels, which has 500 hotel projects in the pipeline for the next two years.
Shared fitness brand ParkBox announced on April 17 that it has received tens of millions of yuan in its A+ round of financing. Hotel giant China Lodging Group (Huazhu Hotels Group) was the lead investor.
ParkBox is a 24-hour self-service fitness space provider which launched its first capsule gym in March 2017. Each ParkBox gym is about 50 square meters and is equipped with a ventilation system that filters fine particulate matter PM2.5, as well as a smart booking management system.
The Fitness Box features top-grade intelligent treadmills, backrest bicycles, multi-function trainers, interactive boxing trainers and other fitness equipment. It is also exquisitely decorated and partitioned to create an exclusive five-star workout space. The Family Box, on the other hand, integrates functions such as entertainment for kids, physical exercise for parents and social networking with friends to meet the multiple needs of keeping fit, socializing and self-realization.
The company has completed three rounds of financing in 2017, including an angel round backed by individuals in March, followed by millions of yuan in the Pre-A round backed by Panda Capital in July and then tens of millions of yuan in the A round from Whales Capital in November.
In addition to developing more forms of fitness box, the financial injection will help bring ParkBox from the community into China Lodging's hotels, which has 500 hotel projects planned for the next two years.