LS Racing Announced Investment in Yodo Run
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The auto sports service provider LS Racing completed its strategic investment in the well-known sports app Yodo Run, and acquired 25% of the shares of Yodo Run at the price of RMB 177 million (approx. US $28M).
Founded in March 2014, Yodo Run is a high-tech enterprise focusing on the development of both software and hardware products of sports health ecosystem.
NGP Capital invested in Yodo Run in April 2017 by leading the round C financing to capture the opportunity for the rapid development of sports and fitness industry.
According to iResearch, China's intelligent sports and fitness market has reached about RMB 10 billion in 2019 and is expected to exceed about RMB 82 billion in 2025, with compound growth rate reaching 46% from 2021 to 2025.
"Yodo Run is deeply engaged in the fields of smart wear, AI and big data, taking the advantages of online and offline resources and providing customized services. The intelligent sports and fitness products are becoming increasingly popular post pandemic. While we exited, we believe Yodo Run will have a great success with the participation of IS Racing." Yao Ge, managing partner of NGP Capital mentioned.
Yodo Run APP is a national sports community and service platform with light sports as the core. It provides multiple services such as sports tracking, community, e-commerce, courses, events and activity organization.