UAE's Enhance Fitness closes $3mln Series A fund round led by Dubai VC

Personal training platform to use funds to expand operations

  
Image used for illustrative purpose. Seed funding or seed stage funding is a very early investment which aims at helping a business grow and generating its own capital. Also referred to as seed money or seed capital, investors often get equity stake in exchange for the capital invested.

Image used for illustrative purpose. Seed funding or seed stage funding is a very early investment which aims at helping a business grow and generating its own capital. Also referred to as seed money or seed capital, investors often get equity stake in exchange for the capital invested.

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UAE-based personal training platform, Enhance Fitness, has closed a $3 million Series A funding round led by a Dubai-based venture capital firm, Global Ventures.

Enhance Fitness will use the proceeds to expand operationally and geographically, hire talent, and strengthen its product, content and marketing strategy, it said in a statement on Tuesday.

Global Ventures invests in growth-stage companies and those using technology to transform emerging markets. Its portfolio companies include Arrow Labs, Buseet, Elmenus and Floranow.

The UAE's start-up ecosystem is recovering from the impact of the Covid coronavirus pandemic. Capital deployed in Q1-2021 increased 72 percent since Q4-20, according to the online community for start-ups, Magnitt.

(Writing by Brinda Darasha; editing by Seban Scaria)

brinda.darasha@refinitiv.com

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