Fitness supplier eGym has set out plans to ramp up the international expansion of its product suite after raising US$45m (€40m, £32m) worth of investment in its latest funding round.

The Series C financing was led by Dutch private equity firm HPE Growth Capital, while existing eGym investors, including Highland Europe, also participated in the round.

Having launched in 2012, eGym – which produces electric resistance machine circuits backed by regular software updates and retention solutions – now features in hundreds of gyms across Europe and is hungry for further penetration.

The new capital injection will allow eGym to accelerate growth and invest in the expansion of the company’s technology and digitisation strategy. Having launched the product in more than half a dozen European countries within the last two years, the company is now confident that more international regions will follow shortly.

“We are hugely excited to have HPE as a new investment partner as they share our enthusiasm for cutting-edge technology and our ambitious growth objectives,” said Philipp Roesch-Schlanderer, founder and CEO of eGym.

To read Roesch-Schlanderer’a top tips on attracting investment, from the March 2016 edition of Health Club Management, click here.