Yuedong Circle Secures $145M Series C Funding, Files for IPO Amid Surge in Gamified Fitness Engagement

Recently, VCBeat (WeChat: vcbeat) learned that the sports and health community platformYuedong Quan Secures $15.3 Million in Series C Funding，Nokia Growth Partners (NGP) led the investment, with Xiaomi following.

Nokia Growth Partners, the lead investor in this round, is an independent fund management firm specially established with sponsorship from Nokia. It focuses on investing in growth-stage companies in the smart devices and services sector, with assets under management exceeding $1 billion.

Yuedong Circle garnered significant investor interest from its early stages. Even before the product’s launch in 2014, it secured RMB 4 million in angel funding from Plum Ventures. In 2015, between August and November, it consecutively completed a RMB 50 million Series A round and a RMB 100 million Series B round, with investors including China-US Venture Capital, Tencent, Union Venture Partners, Sinoway Capital, and Qianhai Huineng.

Yuedong"Quan" was launched in May 2014 and accumulated over 30 million users within just one year. It is reported that,Yuedong Quan has currently amassed nearly 200 million downloads.。20In 2015, Yuedong Quan was successfully selected for Tencent’s “Double Hundred Program” under Tencent WeCreate Space, an initiative in which Tencent leverages 10 billion units of traffic to support 100 companies with valuations exceeding RMB 100 million.

This is an all-in-one app that integrates data tracking for various physical activities, including step counting, running, fitness training, and cycling. It is positioned as “Tools + Social Networking + E-commerce” type of products.

1. In terms of tool functionality, it provides various forms of exercise data recording tools, enabling users to gain a quantitative understanding of their physical activity levels.

2. In terms of social features, users can choose to join different circles, such as “Weight Loss Circle” and “Running Circle,” thereby targeting specific user groups, building communities, and leveraging group-recognized fitness culture to facilitate social interactions among strangers.

3. In terms of e-commerce attributes, the platform focuses on sports equipment while introducing a diverse range of daily necessities. As a mass-market product, it boasts a substantial user base and strong user stickiness, with promising profitability.

In terms of activity design, Yuedong Circle has adoptedOnline + Offlinemodel, leveraging online channels to drive offline events and reinforce community attributes.

Founder Hu Maowei stated in an interview that Yuedong Quan “lures” people into exercising by leveraging human nature, attracting users through monetary rewards and gamified exercise tasks completed in teams with peers. Meanwhile, Yuedong Quan was among the earliest fitness apps to achieve profitability.

Founder Hu Maowei once stated that the most essential aspect of Yuedong Circle lies inGamified Operations. Among the team members of Yuedong Quan, some come from companies with backgrounds in Tencent Interactive Entertainment, mobile game teams, Xunlei Game Hall, and game design. The team’s gaming background also provides ample experience for Yuedong Quan’s gamified operations.

Upon completion of this round of financing, Yuedong Quan will focus its next-stage development on user acquisition and commercialization.