Tencent-backed Chinese fitness app Keep enters unicorn club after $80m Series E

Chinese fitness app Keep has become the country’s first sports tech startup to achieve a $1 billion valuation after raising an $80 million Series E funding round led by China-focused growth-stage investor Jeneration Capital Management.

Existing shareholders, including venture capital firm GGV Capital, Chinese tech giant Tencent, early-stage venture investor Morningside Venture Capital and German conglomerate Bertelsmann’s Bertelsmann Asia Investments (BAI), participated in the latest round.

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