May 2023

The latest updates and news stories happening in the fitness and wellness industry in the Asia-Pacific region.
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In preparation for our flagship event, the World Health, Fitness & Wellness Festival (12 – 15 June), we filmed our May vlog around the beautiful city of Singapore, showing different sceneries that you will get to see if you come and join us! There are still a handful of tickets available, you can secure yours here: https://thefitsummit.com/events/global/#Register. For now, enjoy our vlog!

Read This Month’s Headlines

  • Global boutique fitness franchisor Xponential Fitness reported strong financial results for Q1 of 2023, with revenue increasing $20 million (40%) compared to the same quarter last year.
  • Fitness mirror maker FORME goes public on the NASDAQ with a valuation of nearly $100M
  • Define Ventures, whose portfolio includes companies like Hims & Hers, has raised an additional $460 million to fuel its investments in early-stage digital health startups.
  • Bonatra, a holistic health company, acquired women’s health startup MyAva
  • Indian foodtech startup Pluckk acquired DIY meal kit platform KOOK for $1.3M
  • Ora, a Singapore-based digital specialty care startup, secured an $8M investment from Antler, TNB Aura, and Kairous Capital
  • Relaxy, a Bangladesh-based data-driven mental health provider, raised an undisclosed pre-seed round
  • Mito Health, a Singapore-based AI preventative healthcare platform, secured S$1.7M in an oversubscribed pre-seed round
  • South Korea-based Algocare, an AI-enabled nutrition platform, raised an undisclosed sum from D.CAMP
  • Indian cardiac diagnostic startup Tricog Health secured US$8.5M in a Series B2 round
  • StretchLab, Xponential Fitness-owned assisted stretching brand, signed its first master franchise agreement in Japan – to license at least 40 StretchLab studios in Japan over the next 10 years
  • Anytime Fitness India opens up their 125th club – congrats to Vikas and his team!
  • The Fit Guide has launched in London, highlighting the best fitness studios and experiences in the city. Singapore will launch on the 8th June
  • Singapore boutique fitness company CRU launches a new pop-up inside Ngee Ann City’s PURE Fitness
  • SPARKD Celebrates the re-opening at their new outlet located right in the heart of CBD Singapore
  • Fitstop announced Fitstop Orchard opening soon! After their launch in Holland Village
  • S30 opens a new studio in Tanjong Pagar in Singapore, congrats to Luke and co!
  • STRONG’s first ever studio in Asia is opening next month in Singapore! Helmed by Yoga Movement Founders, Pete and Alicia, with 11 confirmed STRONG studios
  • Telehealth startup Eucalyptus raised AUS$50M in new funding from Blackbird Ventures, BOND Capital, and Woolworths’ W23 venture arm.
  • Entrepreneur Julie Mathers and New Zealand-based online wellness retailer HealthPost acquired the Flora & Fauna and Nourished Life brands from now-defunct beauty giant BWX.
  • AI-enabled personalised nutrition platform Vitable raised A$1.9M in crowdfunding.
  • Healthtech and wearable maker Masimo acquired Nura, an Australian maker of self-adjusting headphones for those with hearing sensitivities.
  • The new Saint Haven Private Wellness Club opens in Victoria, Australia
  • Aussie activewear brand LSKD enters US, outfits Life Time gyms.
  • REVL Training Collingwood – REVL’s 23rd location globally and 3rd in Victoria
  • Under Armour just announced they will host their 2nd National Combine on Sat. 4 November
  • Boxing and strength concept UBX recently debuted in Singapore and England, with deals in place to open 250 and 145 studios in the UK and Japan, respectively, over the next decade.
  • Technogym is making its Mywellness ecosystem accessible on any connected equipment – from any manufacturer
  • Body Bike is expanding their sustainable range with a new vibrant color, The BODY BIKE SMART+ Forest Green, made from 25% recycled plastic.
  • Australian Fitness Academy launches a new, Certified Personal Trainer Course in Singapore
  • Less than a month to go Studio Pilates International open their first UK Studio, the first of many more to come
  • Vitruvian unveils the TrainerX and VFrame utilising AI technology
  • ABC Fitness Solutions and Les Mills partner up to make the group fitness giant’s on-demand video classes available to ABC customers.
  • Sales Hero has just started working with a number of franchisees from Franchises including Air Locker, BUMP Health & Fitness and FS8. They have also now entered the New Zealand market too! Exciting times ahead for Cam and his team.
  • World-class premium fitness equipment manufacturer, ZIVA, has helped several big name clients including Anytime Fitness, The Home Team, and the soon-to-be-opened Toa Payoh SNAP Fitness cast aside their usual old designs with customisation options on not only free weights but functional rigs, as well. Innovation, quality, durability, and revolutionary R&D are at the heart of every single piece they manufacture.
  • Over 3-4 June in Singapore, all are invited to experience free Les Mills classes as part of a partnership between Les Mills Asia Pacific and SportSG, and is tied in with the LES MILLS LIVE Singapore event, which will see around 1,600+ Les Mills Instructors and fans unite at the OCBC Arena.
  • Last but not least, check out online our FIT Summit 2023 Awards Of Excellence Finalists this year we present 12 awards, some incredible companies and executives.

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