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.

Also read:

GGV Capital raises $1.2b to back tech startups in US, China

Australia and US-based BigCommerce raises $30m Series E led by GGV Capital

Indonesia: Laku6 secures undisclosed seed funding in round led by GGV

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.