Digital Garage Leads Investment in SOELU, Offering an Interactive Online Fitness Service, Through DG Daiwa Ventures
DG Daiwa Ventures Inc. (HQ: Tokyo; Representative Directors: Masahito Okuma and Akihiko Ogino; DG Daiwa Ventures), a joint venture between Digital Garage, Inc. (TSE first section: 4819; HQ: Tokyo; Representative Director, President Executive Officer and Group CEO: Kaoru Hayashi; DG) and Daiwa Securities Group Inc. (TSE first section: 8601; HQ: Tokyo; President & CEO: Seiji Nakata; Daiwa Securities Group), operates DG Lab Fund II E.L.P. Cayman (in short, DG Lab Fund II), an investment fund for global startups with next-generation technologies. Via this fund, DG Daiwa Ventures leads investment in SOELU Inc. (HQ: Tokyo; President and CEO: Shigo Sho, COO: Satoshi Shirato; SOELU), which offers an interactive online fitness service. SOELU has raised a total of 650 million yen, including this third-party allocation of shares and loans.
Currently, the online fitness market in Japan is growing at a rapid pace due to restrain in going out and increasing health awareness caused by the spread of COVID-19. Globally, the market is expected to grow to over 59,000 million dollars by 2027.
SOELU is a startup that offers “SOELU,” one of Japan’s largest online fitness services. Professional instructors teach live yoga, exercise, and other classes that can be taken in the comfort of your own home and are of the same quality as those offered at traditional gyms or studios. The company has worked to draw in users who had fewer chances to be active during the COVID-19 pandemic, as well as users who do not habitually exercise, and the live lessons have been attended more than 2 million times (cumulative total). SOELU also plans to launch its own product brand this autumn and expand its fitness lineup. Based on its vision of “Creating a society where continual health is the norm,” SOELU will continue to offer services and products that meet user needs, as well as comprehensive health programs through “SOELU.”
DG is supporting promising entrepreneurs inside and outside Japan via its startup investment and incubation business, starting with DG Daiwa Ventures. Through this investment, DG will help SOELU expand its services and businesses by providing the DG Group’s marketing expertise, financial solutions, and other assets according to “DG FinTech Shift,” a Group strategy that integrates payments and data.
DG will continue creating next-generation businesses across the Group and implementing co-creation with stakeholders to contribute to a sustainable society.
【About SOELU Inc.】
Company name: SOELU Inc.
Established: April 1, 2014
Representative: President and CEO Shigo Sho, COO Satoshi Shirato
HQ: Room 507, Roppongi Ignoppor, 5-9-20 Roppongi, Minato-ku, Tokyo