Exclusive: London fitness platform formed by ex-Barry’s trainers raises fresh equity
Online fitness platform Grndhouse, co-founded by five London fitness trainers, has raised a financing round led by venture capital firm Passion Capital, the firm told City PM this morning.
The £1.5m investment will be used to launch a 4,500 sq ft film studio and facility, along with an app in early 2022, the firm said.
Louis Rennocks, one of the co-founders, told City PM that “this investment enables us to level up our offering and expand our online presence offline with a physical studio launch. We believe community will be a key part in our growth and that’s why we’re so excited about the connective functionality of our app.”
“We want to create a unique community vibe giving consumers the opportunity to train with work colleagues, friends and family wherever they are in the world, with workouts led by the best trainers in the world,” Rennocks explained.
Having launched in January 2021, Grndhouse pulled in just over 1,000 subscribers within its first month of operations.
Eileen Burbidge, partner at Passion Capital, which was one of the first investors in Monzo Bank and Butternut Box. said in agreement that her firm “believes the future of work and life in general will be hybrid and while many individuals may want to get personal training in a gym, many more will appreciate the privacy and convenience of strength training in the comfort of their homes, places of work or even while travelling.”