Space Cycle, a Beijing, Shanghai and Taipei-based premium boutique fitness and active lifestyle brand, closed a RMB100m Series B funding.
The round was led by Alibaba Taiwan Entrepreneurs Fund II, managed by WI Harper Group. In conjunction with the funding, Mr. Edward Liu, Partner at WI Harper Group, will join Space Cycle’s Board of Directors.
The company intends to use the funds to add new concept studios throughout China and develop its online platform to further grow its offline-to-online presence.
Founded in 2005, Space Cycle operates premium boutique fitness studios throughout mainland China and Taiwan that combine fitness and entertainment through music, pop culture and innovative teaching methods. The company offers indoor cycling, barre, yoga and dance in a high-tech atmosphere specially curated around music, with in-studio software, lighting, audio and video-mapping technology that’s designed by 3-Legged Dog (3LD). Space Cycle has also organized hundreds of fitness-related events and has strategic partnerships with Nike, Lululemon and Mercedes Benz, as well as an online store and a proprietary mobile online booking app. Currently, there are six studios operating in Beijing, Shanghai and Taipei with plans to open more studios throughout Greater China.