To be released: August 20th 2015 11 am BST
Yoogaia, the world’s first interactive yoga studio, announces the closure of a $3 million seed investment round from Nokia Growth Partners, Inventure, Sanoma Ventures and Point Nine Capital. This new funding allows Yoogaia to continue with its international expansion, hire key talent and improve customer experience in mobile devices.
Founded in 2013, Yoogaia has grown rapidly, reaching 50,000 users in over 50 countries since its launch. The company has three studios in Helsinki, London and Hong Kong. In September, Yoogaia will launch the world’s first interactive live yoga application for Apple mobile devices globally. Yoogaia will also begin to offer yoga classes in German.
“Yoogaia is serving a large global need by an innovative use of mobile real time services that help consumers live a healthier life. Mikko Petäjä and his team have in very rapid fashion built a large growing user base in a segment of Digital Health, one of the investment focus areas of Nokia Growth Partners,” says Bo Ilsoe, Partner at Nokia Growth Partners.
Jussi Kallasvuo, Investment Manager at SanomaVentures comments: “Yoogaia has a totally unique approach in the area of wellbeing. It is the only online service where a group of people can have interaction with a real yoga teacher. There are numerous collaboration opportunities for Yoogaia with Sanoma's lifestyle brands both in Finland and abroad”.
"Yoogaia has created a beautiful and differentiated product that truly sticks out in the online fitness market – and the numbers show that users really love it. We are impressed by what the team has achieved since launch and are thrilled to be part of the journey going forward" says Nicolas Wittenborn, Point Nine Capital.
In addition to flexibility when exercising from any location, Yoogaia wants to provide the best service to its customers.
”We have an extremely loyal customer base that finds true value in our offering, attending classes several times a week on average. This investment enables us to serve customers’ needs even better, making everyday wellbeing more accessible to more people around the world” says the CEO of Yoogaia, Mikko Petäjä
Individual Company contact information:
Mikko Petäjä, Yoogaia, tel. +44 7444 939 149, email@example.com
Silja Kaurala, Nokia Growth Partners, tel. +358 50 5710 637, firstname.lastname@example.org
Ekaterina Gianelli, Inventure, tel. +358 44 317 3470, email@example.com
Jussi Kallasvuo, SanomaVentures, tel. +358 40 503 8667, firstname.lastname@example.org
Yoogaia is the world’s first live, interactive online yoga studio with a mission to bring easy wellbeing for all utilising the latest technology. Yoogaia brings interactive yoga, pilates, core and barre classes to your home, in real-time. With Yoogaia, the studio is where you are, allowing you to exercise in the convenience of your home with professional teacher instructing you personally via webcam. For more information, please visit http://www.yoogaia.com.
Nokia Growth Partners (NGP) is an independent fund sponsored solely by Nokia investing in companies that are changing the face of mobility. NGP offers industry expertise, capital and an extensive network, enabling entrepreneurs to build disruptive, industry-changing companies and take them to the global market. With offices in the US, Europe, India and China, NGP extends the reach of companies making their products and services local everywhere. For more information, please visit http://www.nokiagrowthpartners.com.
SanomaVentures is the corporate venturing arm of European media and learning company Sanoma Corporation ($SAA1V). SanomaVentures aims to support digital growth companies by providing capital, media reach, industry expertise, network and active support and focuses on strategic early to mid-stage investments in innovative companies in online media & marketing, e-commerce and education. SanomaVentures has offices in Amsterdam and Helsinki. For more information, please visit http://www.sanomaventures.com.
Point Nine Capital was founded in 2011 and focuses on early-stage investments in the areas of SaaS and Digital marketplaces. It now has over 50 companies across Europe and North America in its portfolio and has raised a total of €100M for its three funds. For more information please visit http://www.pointninecap.com.
Inventure is a leading early-stage venture capital company in the Nordics and Baltics. Inventure invests in innovative and fast-growing companies, led by exceptional entrepreneurs that are willing to disrupt their industries. Inventure’s team is a great mix of experienced entrepreneurs, industry experts, and investment professionals committed to help start-ups build global success stories. Inventure operates in Helsinki, Stockholm, Shanghai, and New York. For more information, please visit http://www.inventure.fi.