Founded in April 2015, Ride Jakarta is the first boutique studio dedicated to indoor cycling in Indonesia and has three studios in Jakarta currently. The company said it will use proceeds from the latest financing round to expand its physical fitness studio network, develop digital content for offsite users and hire new staff.
“In the past, lifestyle fitness has been overlooked as a business in Indonesia due to a variety of misconceptions. Our model demonstrates that by investing in consumer experience and high quality instruction, fitness can be a scalable business and generate meaningful profit,” said Ride Jakarta founder and CEO Gita Sjahrir.
“Ride Jakarta’s unique business model applies lessons learned from the US boutique fitness segment to Indonesia’s local market conditions. Gita and her team have demonstrated the right combination of ingenuity and perseverance to create a sustainable and scalable business model that meets the healthy lifestyle needs of Indonesians,” said Patrick Yip, Founding Partner at Intudo Ventures.
Ride Jakarta plans to open new studios in locations including Plaza Indonesia, Colony Kemang, Pacific Place and Senayan Golf Club this year and expand to big cities outside of Jakarta and Bali by 2020. Other plans include launching digital content for a freemium fitness app and expanding its offerings beyond indoor cycling to include other fitness courses, including a boot camp course.