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Hydrow , the at - menage row motorcar maker , announced Thursday that it has acquired a majority stake inSpeede Fitness , the troupe behind the AI - enabled specialty preparation simple machine .
The rowing startup also announced that chief executive officer and founder Bruce Smith will step down , and President and CFO John Stellato will take over day - to - day surgical procedure , per CNBC . Smith is now the president of Hydrow ’s display panel .
Hydrow declined to share how much of a bulk post it now has in Speed Fitness . It ’s potential that the company may acquire the remainder of Speede , but it is uncertain at this sentence .
Founded in 2017 , Hydrow ’s connected rowing machines ( which browse from $ 1,695 to $ 3,995 ) simulate the feeling of row on water through a patent electromagnetic and computer - controlled puff mechanism . The party has raised $ 300 million to date and touts notable investors such as Activant Capital , Constitution Capital , L Catterton , Liberty Street , RX3 and Sandbridge Capital , as well as several professional athletes and celebrities like Travis Kelce and Justin Timberlake .
As of April , delivered unit sales were up 35 % year over year , Smith secernate TechCrunch .
Backed by NFL athletes ( Cole Kmet , Jaylon Johnson and Justin Simmons ) , Speede Fitness pop the question a full - consistency home gym experience , combining isosmotic , isokinetic and off-the-wall training to provide more challenging and effective exercise .
As Hydrow aim to become a “ whole - body health company , ” the acquisition allow it to expatiate into long suit - focused experiences , which the company will integrate into its attached fitness platform by 2025 . In addition to rowing , Hydrow proffer other exercising like yoga , Pilates and functional movement .
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“ This innovative product will feature a technical school - forward , digitally variable resistance platform with adaptive feedback , ” Smith explained .
