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Freebeat Ups The Ante With $20 Million Funding

·2 min read

Led by Susquehanna International Group (SIG) and GSR Ventures

SHENZHEN, China, Aug. 26, 2021 /PRNewswire/ -- Freebeat has received $20 million in strategic funding from Susquehanna International Group (SIG) and GSR Ventures. The investment will set new benchmarks in the connected fitness industry. The company is tipped to use the $20 million funding to boost manufacturing and production of its connected exercise bikes, which provide users with interactive world-class indoor cycling and crosstraining classes at the comfort of their own homes through a on-bike 22'' HD touch screen. The product is priced at $1499 with a special launch deal at $1199. Comparing to current market leaders, freebeat make the product competitive by the accessible price in addition to its unique gamification features.

Freebeat's investors and founders graduated from Stanford University. Moreover, the management team comes from the world's top-ranking schools including Stanford, Wharton, WashU, UC Berkeley, and U Toronto with diverse backgrounds. The product team has prior work experiences at Morgan Stanley New York, Soulcycle, Esquire, and many more.

The main goal of freebeat is to optimize global resources to empower people in a wholesome stress-relieving and barrier-free zone. In addition, the company's mission is to create an accessible oasis where customers can ride for an average of up to 12 hours per month. The company's premium feature, the gamification system, allows users to connect with friends and family and compete with each other. Furthermore, the platform is designed to nurture deep bonds within the freebeat community.

The company sources revealed that the team connects with their true and best selves. The motto of freebeat is the power of sharing, and hence products are offered at reasonable prices to provide positive energy to tech-savvy enthusiasts. Freebeat has manufactured the sensors in such a way that a single pedal will never be missed. The system is designed to automatically detect the preferences and record performance, as well as providing smart class recommendations for the best training program that suits your needs. Exclusively for each class, the tech team has developed unique computer-generated special effects that match the rhythm and beat.

With its global presence, freebeat's state-of-the-art manufacturing, production and assembly facilities in Asia add value to its vast customer base, ensuring that product quality is regulated in every unit shipped from the warehouse. The company sources high-quality materials for its award-winning xbike, and the product package comes bundled with a smart dumbbell, frontend bike mechanical features in addition to intelligent software that synchronizes well with the system.

Please contact freebeat at press@freebeatfit.com.

Web: www.freebeatfit.com

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View original content:https://www.prnewswire.com/news-releases/freebeat-ups-the-ante-with-20-million-funding-301363330.html

SOURCE Freebeat