Indoor rowing machine Hydrow announced it has received a $20 million growth investment led by private equity firm L Catterton. The investment will enable Hydrow to sell its connected fitness rower to consumers across the U.S.
Hydrow allows users to row at home while watching live or on-demand workouts on a 22-inch touchscreen HD TV that is attached to the rowing machine. Live workouts are conducted by professional rowers, some of whom compete for the U.S. national team, and are streamed from locations such as the Hudson or Charles rivers. Hydrow’s computer-controlled resistance can continuously adjust to a rower’s current fitness level.
“When we launched Hydrow, our goal was not only to deliver an accessible, convenient and efficient workout, but also to build human connection through the communal and interpersonal aspects of rowing,” said Bruce Smith, Founder and CEO of Hydrow, in a press release.
Smith, a former coach of the U.S. national team, founded Hydrow—formerly known as True Rowing—in 2017. According to the company, rowing can engage 86 percent of the body’s muscles compared to 44 percent for biking or running, and can results in up to 400 calories burned during a 20-minute workout. Hydrow says it has sold 1,500 rowers in pre-sale.
SportTechie Takeaway
Hydrow currently retails at $2,399 not including a $39 monthly subscription fee required to access its library of more than 200 workouts. The company is attempting to achieve in rowing what Peloton has in cycling. Last summer, Peloton raised $550 million (valuing the company at around $5 billion).