Samsung Next Invests in US Obefitness, a 'Home Workout App'

[Asia Economy Reporter Jeong Hyunjin] Samsung Next, the venture investment subsidiary of Samsung Electronics, has participated in an investment in the digital fitness startup ObeFitness. This investment targets the growth potential of fitness applications that help users exercise indoors at home or work as physical activity has decreased due to the impact of COVID-19.

According to industry sources on the 23rd, Samsung Next announced that it participated in a $15 million Series A round led by CAVU Venture Partners on the 22nd (local time). This round also included Athleta, Gap's activewear brand, and actress-comedian Tiffany Haddish.

An instructor from the digital fitness startup ObeFitness is giving a lecture. (Photo by Samsung Next)

ObeFitness provides videos that assist with indoor workouts. It offers 22 live classes daily and streams videos through Apple TV, Roku, Fire TV, Chromecast, and other platforms. Samsung Next evaluated that the instructors conduct real-time online classes, build communities, provide motivation, and offer immediate feedback, adding an entertainment element to exercise.

Samsung Next stated, "Many digital fitness applications have failed to create differentiated points, but ObeFitness has found this niche," adding, "In terms of fitness and entertainment, it is rewriting the rules and has the potential to resonate with consumers who were not attracted to services offered by other companies." They continued, "We have long considered investing in digital fitness companies. We wanted to invest in companies that could grow after COVID-19," and concluded, "ObeFitness will become a market leader."

This content was produced with the assistance of AI translation services.