In November, the team that launched fitness phenomenon Peloton reported it is launching a direct-to-consumer custom rug company, Ernesta Inc., in spring 2023. Peloton co-founders John Foley, Hisao Kushi and Yony Feng have raised $25 million in a Series A funding round, led by Addition with participation from True Ventures, along with other investors.
"I've always had a passion for design, and when I noticed how confusing and overwhelming the process can be for consumers who want great style at an accessible price point, particularly in the rug category, I saw a white space in the market," said Ernesta CEO John Foley.