BUSINESS NEWS
Want to stay up to date on the latest press releases and business news in the running, cycling and triathlon industries? Scroll below to view all endurance sports business news.
July 27, 2021
Elite Launches the Rizer
FONTANIVA, ITALY — Elite is proud to release the latest addition to their indoor cycling ecosystem: the RIZER. Elite’s gradient simulator with steering is designed to give cyclists the most immersive riding experience as they work every muscle on their trainer and blast the world’s steepest climbs. MAIN FEATURES Inclines...
July 26, 2021
Velocity Indoor Cycling App Secures $3.4 Million in Seed Funding
Highland Park, Illinois, July 26, 2021 - Vision Quest Velocity LLC, an early-stage virtual cycling start-up, announced it has raised $3.4M in seed round funding. The investment round was led by strategic financial partners. Velocity will leverage the more than 20 years of experience and knowledge from Vision Quest Coaching...
July 25, 2021
iFIT Acquires 29029, the Premium Ultra-Endurance Event and Community That Brings the Experience of Climbing Mount Everest to its Members Around the World
(LOGAN, Utah) iFIT, a global leader in connected fitness software, content, and equipment, today announced that it has acquired 29029, the company that created the category of endurance hiking events. 29029 delivers the experience of climbing Mount Everest to its members and provides the ultra-endurance experience to athletes at all...
July 23, 2021
Obé Fitness, Nets $15 Million in New Investment as Samsung Next, Athleta and Actress-Comedian Tiffany Haddish bet on Home-Fitness
Even as people return to the gym, digital fitness businesses like Obé think they can expand. Its Disney tie-ins help. Athletech News
July 23, 2021
Senate E-BIKE Act Would Offer Tax Credit for Electric Bicycle Purchases
BOULDER, COLO. (Jul. 23, 2021) —PeopleForBikes applauds the timely introduction of legislation in the U.S. Senate to offer an electric bicycle tax credit, helping more people easily get out on two wheels. The Electric Bicycle Incentive Kickstart for the Environment (E-BIKE) Act (S. 2420), led by Senators Brian Schatz (D-HI)...
July 22, 2021
SEC Halts Alleged Ongoing Offering Fraud Involving Cycling Companies
Arrested: Samuel Mancini managed and controlled Outdoor Capital Partners LLC (OCP), which he purported to be a venture capital and private equity firm, and promised investors that he was raising $20 million, including $5 million of his own money, for OCP Italia to invest solely in acquiring controlling interests in...
July 22, 2021
Zone7 Raises $8 Million In Series A Round To Expand Artificial Intelligence Platform For Predicting Sports Injury Risks
Zone7’s system analyzes data that teams collect on athletes when they’re practicing, playing in games, working out and even sleeping. It then produces reports on each player’s fitness and other variables, forecasts their injury risk and suggests ways in which so-called “operators” such as coaches and medical personnel can help....
July 22, 2021
Portland Design Works is Officially Certified Climate Neutral
PORTLAND, OR (July 22, 2021) — Portland Design Works, creators of gear for everyday cycling, is proud to announce that the company is now officially Climate Neutral Certified. “We believe that we can make a change toward more sustainability within the bicycle industry. We are small but mighty, and proud...
July 22, 2021
Janus Cycle Group — owner of Merlin and Dean — sold to former real estate executive
Titanium bike and component manufacturer Janus Cycle Group announced Thursday it sold all company assets to Phil Joseph, a former real estate executive. Joseph, an avid cyclist, purchased 100% ownership stake in the assets, which include Merlin Metalworks, Dean Titanium, Knight Composites, Ionic Bikes, and Rossin Bikes. BRAIN
July 22, 2021
Skechers Reveals Strong Q2 Earnings on Wholesale Boom
The company announced record quarterly sales of $1.66 billion, an increase of 127.3% year-over-year, and 31.7% over the second quarter of 2019. BW