Chinese fitness app Keep announced on Monday that it has finished a $360 million funding round, which was led by SoftBank Group Corp’s Vision Fund, as more people resort to the app to work out at home amid the COVID-19 pandemic.
Other investors also include Hillhouse Capital, Tencent Holdings Ltd, Coatue Management, GGV Capital and Bertelsmann Asia Investments.
Keep is now valued at about $2 billion after the investment, according to tech media 36Kr, but the popular workout app declined to comment on the valuation.
Founded in 2014, Keep now has about 300 million registered users who turn to the app for customized exercise sessions and instruction. The company also sells fitness equipment such as treadmills and home exercise bicycles as well as weight-conscious snacks.
The company said it will upgrade its smart fitness hardware and unveil more healthy food for Chinese consumers in 2021.
The latest round of financing came after the fitness trend among people staying at home in China boomed amid the COVID-19 pandemic, and technology companies beefed up efforts to provide users with intelligent fitness equipment and services.