Monday, December 8, 2008

Expresso Fitness Gains $14M

Sunnyvale-based Expresso Fitness, a developer of interactive fitness systems, announced this morning that it has raised $14M in a combination of debt and equity. According to Expresso, the deal included a $7M working capital line from Silicon Valley Bank, and equity from its existing investors. The firm said that the funding will go towards expanding its product portfolio and market. The firm's investors include Sierra Ventures, Physic Ventures, and Enterprise Partners Venture Capital. Expresso Fitness develops bicycle-based cardio fitness system which tie together with an interactive video display simulating a bicycle ride. Among features of the firm's cardio systems are recumbent bicycle models and networked "competitions" between users. More information »