It is reported that in the first half of 2021, the sales of exercise bikes of "Yesoul" ranked first in this category in both Tmall and JD.com.
It was exclusively learned that the home fitness technology brand "Yesoul" has recently completed a series A financing of over 100 million yuan. This round was led by Xiaomi Group, followed by Shunwei Capital and Zero2IPO Venture Capital, and TEM Capital and Phoenixtree Capital as a financial advisor of this round. With the investment of Xiaomi Group, "Yesoul" has officially become an ecological chain enterprise under Xiaomi.
As we have learned that the "Yesoul" this round of raised funds will be mainly used for new intelligent hardware development, optimize the supply chain system, strengthen the online course content and develop overseas markets.
Yesoul was founded in 2015, through the "hardware + content" mode, to provide users with professional and interesting fitness services from the home scene.
The founder and CEO Luo Shaomeng has 20 years of experience in the fitness industry and was VP of Shuhua, a well-known fitness equipment brand. The core members are mainly from the traditional hardware field and the Internet industry, and have many years of experience in hardware technology development, software technology planning and management, course research and development, and user operation.
In terms of products, in 2017, it launched a smart home exercise bike. In the same year, it launched the YESOUL APP to provide users with professional online content, and quickly opened up the market with the advantages of combining software and hardware. In 2019, it launched a smart home treadmill; in 2020, it launched a smart rowing machine. According to the data from Business Advisor and JD Business Intelligence from January to June 2021, in the first half of 2021, the sales of smart home exercise bikes of "Yesoul" ranked first in this category in both Tmall and JD.com.
In terms of content, according to the introduction, "Yesoul" can produce 3,000 courses every year, with the completion rate of 87.3%. Users train nearly 4 times a week, and the average single training time is 27 minutes.
The fitness industry is undergoing a reshuffle and reshaping
The "14th Five-Year Plan" focuses on building a strong sports country, and the era of digital, intelligent and diversified fitness is coming.
According to relevant data, the size of my country's gym market in 2020 will exceed 120 billion yuan. At the same time, the market size of fitness equipment will reach 52.6 billion yuan, and the market size of online fitness products will reach 174.9 billion yuan. The market size of online fitness products is growing rapidly. As of the end of 2020, the number of fitness members in China's fitness industry is about 70.29 million (excluding Hong Kong, Macao and Taiwan), and the fitness population penetration rate in China is 5.02%, which is still far behind the 20% population penetration rate in Europe and the United States.
According to the 2021 Mass Fitness Behavior and Consumption Research Report released by China Sports Goods Industry Federation, the average annual total consumption of mass fitness in China was 5,670 yuan, up 35% month on month, among which the users who invested more than 8,000 yuan in fitness consumption accounted for nearly 1 / 4.
China has a fitness market with huge growth potential, which has become an industry consensus. Especially after the epidemic, people pay more attention to health, people's sports awareness is awakened, users' fitness habits have also changed rapidly, and the trend of online fitness is obvious.
Regarding the rapid growth of the online fitness market, Luo Shaomeng said that in the past five years, whether it is a gym or a seller of fitness equipment, the performance is not as good as the development of online technology fitness brands. Taking the United States as an example, the market value and income of top brands have far exceeded those of traditional offline gyms and offline fitness equipment sellers. Although scientific and technological fitness is in its infancy, there is a lot of room for imagination in the future.
Positioning the "hardware + content" model, providing home health management solutions
As a company positioned as "hardware + content", "Yesoul" focuses on continuously providing users with home health management solutions including professional smart fitness hardware, online guidance from professional coaches, and professional and interesting fitness courses. Let users have a more pleasant and interesting experience in sports.
Since 2018, "Yesoul" has started to build its own supply chain. At present, it has formed a relatively complete supply chain system with more than 200 suppliers of various types. At the same time, a special quality team has been formed to improve the quality of suppliers. Management and control ability
In order to quickly respond to market changes, the company has nearly 100 engineers on the front line of research and development, forming independent business units such as electronic embedded research and development, hardware design and development, software design and development, and course research and development, and encourages developers to explore the field of AI technology landing in vertical motion. more possibilities.
Through the smart chip in the equipment, "Yesoul" hopes to provide users with an immersive exercise and interactive platform, allowing them to get the wonderful experience of being in an offline gym.
The company has reached a cooperation with Xiamen Data Intelligence Research Institute, a subsidiary of the Institute of Computing Technology, Chinese Academy of Sciences. Through the analysis of massive exercise data, according to the differences of users' age, gender, athletic ability and physical status, the AI algorithm is used to output thousands of people and thousands of faces. courses and match personalized exercise goals. Based on personalized data, "Yesoul" can also customize corresponding fat-burning plans and diet plans for users to help them achieve their exercise goals faster. Even in an online course with hundreds of people participating at the same time, users can also get personalized goal setting, and output the individual's current goal achievement and highlight moments in real time.
Create a scientific and interesting curriculum system
Luo Shaomeng said that "Yesoul" has established a relatively complete "course research and development system" and "course production operation process", and build a broadcasting level course live broadcast center to maintain the course live broadcast all year round to guarantee the "freshness" of the course.
The courses provided by the platform involve 6 major categories of fitness courses, more than 20 sub-categories of courses, and courses of different durations of 7-60 minutes, which are highly optional for users.
"Yesoul" focuses on the interaction between users and coaches in the classroom. The coach can see the real-time data of users through the intelligent background and provide users with real-time feedback and guidance; Users provide online real-time observation of personal data rankings to achieve PK interaction between users.
In terms of course presentation, "Yesoul" optimizes the experience from an audio-visual perspective. In terms of listening experience, we have specially created music-themed courses and DJ live courses to provide users with innovative course experience; we have also conducted original sports music with well-known musicians to realize the customization of course music. In terms of visual experience, a series of real-life cycling courses have been launched to restore real-life cycling to the course arrangement, making the user experience more interesting and diverse.
In terms of course development, "Yesoul" will conduct user research and seed user public testing, discover the latest needs from the user's perspective, and then design new courses.
According to the team, the Yesoul APP currently has 20,000 monthly new users, more than 500,000 cumulative registered users, and about 300 new original courses every month.
Luo Shaomeng said that compared with China, the overseas fitness market is more mature, but the supply is insufficient. "Yesoul" has currently built live broadcast studios both at home and abroad. Based on the existing overseas markets such as Europe, North America, Australia, Japan, and South Korea, it will simultaneously take advantage of Xiaomi's overseas channels to actively expand sales. And landing overseas localized content to truly achieve a global layout.
About investment logic
Li Jianbin, managing partner of the strategic investment department of Xiaomi Group, said: We are very optimistic about the home fitness track, which has developed rapidly in recent years, and we are full of expectations for the future prospects. Through this strategic investment, we will also give full play to Xiaomi's technological accumulation advantages and combine with the software and hardware R&D advantages of Wild Little Beast to better serve the needs of the public in the fields of home fitness and personal health.
Yuan Runbing, partner of Zero2IPO Ventures, said: “Yesoul has done a good job in combining fitness hardware and content, and has already ranked first in the Tmall spinning bike category, and has a good category advantage. We are very optimistic about the future development potential of Ysoul.
Xia Yuchen, head of the Xiaomi strategic investment Project, said: With the enhancement of public health awareness, the demand for home fitness scenarios has increased significantly, and the configuration of sports content + smart hardware will be the basic threshold. The foreign market is promising, and the market size and growth rate are considerable.