China’s workout app KEEP $32m Series C from Morningside Ventures, GGV Capital

Visual from the fitness app startup's website.

Chinese workout mobile app KEEP has snapped up a $32 million series C funding round led by Hong Kong-based private equity and venture capital firm Morningside Ventures and multi-stage VC investor GGV Capital, according to a China Money Network report.

Beijing-headquartered Bertelsmann Asia Investments also participated in the round.

Launched in February 2015, the fitness startup secured a $10 million series B financing seven months later, according to Crunchbase data. The company will use the latest funding to upgrade its app functions and expand product offerings, according to the report.

KEEP has garnered 30 million registered users, with around 11 million active monthly users. While it provides users customized training sessions and social media sharing tools, the company began offering e-commerce services last month.

GGV Capital, which has offices in China and Silicon Valley, has been an active investor in the Asian region. Lately in May, it has co-funded $30 million in BigCommerce, an Australian and US-based B2B e-commerce startup. The deal followed its launch of the $1.2 billion new funds dedicated to US and Chinese startups.

The firm is also widely known for its investments in major tech companies such as Airbnb, Alibaba and Square Inc.

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