Italy’s Buddyfit lifts off €10M funding for its virtual gym and training platform

Buddyfit
Image credits: Buddyfit

Buddyfit, an Italian digital fitness platform that helps users train flexibly, announced that it has secured €10M in a Series A round of funding led by Azimut Digitech Fund investment fund. Others, including Cairo Communication, RCS MediaGroup, and a few private investors, also participated.

The funds will enable Buddyfit to accelerate the internationalisation process, aid the development of new services, and hire 50 new employees by 2023, bringing it closer to 100 people.

“Our goal is to help millions of people stay healthy while also having fun. It is a mission we’re proud of, considering that the rate of obesity and physical inactivity has increased over time in Western countries, as well as individual wellbeing did” says Giovanni Ciferri, co-founder and CEO of Buddyfit. 

He adds, “We started with fitness, but we always had in mind to expand to other sectors with the goal of becoming the reference point within the wellness industry.”

According to the results of the “Worldwide Survey of Fitness Trends” in 2022 identity – among the new emerging trends – is the fact that in 2022 people will access fitness in a completely new and hybrid way: they will train both at home and in the gym, outdoors and indoors. This confirms how online training is becoming a rising international trend.

Training in a hybrid way

Giovanni Ciferri founded Buddyfit 2019 as a response to the growing need to train with flexibility, without any constraints of place or time. Buddyfit offers the possibility of working out whenever and from wherever they like. 

The platform offers more than 15 different disciplines, and over 40 professional trainers to take users on a journey towards well-being.

Since its inception, the company has managed to reach hundreds of thousands of users and create an engaged community, claims the company. 

“The Online fitness market has a value of €11B, with significant growth forecasts also linked to the increase of digitalisation and the use of smart devices. The experience that combines fun and physical activity, a unique way to train with athletes and celebrities, allows Buddyfit to have an important competitive advantage over its competitors. The professionalism and expertise of the team, together with the ability to innovate, will allow the company to develop in other areas as well. We believe that thanks to this investment round, Buddyfit will be able to achieve the planned results,” comments Guido Bocchio, Head of Venture Capital at Azimut Libera Impresa Sgr.

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