BoxVR Developer FitXR Completes $7.5 Million Series A Round to Create new Fitness Products
Virtual reality (VR) fitness has become an important genre as consumers look for new and innovative ways of staying healthy at home. FitXR’s BoxVR is one of the biggest players in this ecosystem, with the studio announcing today that its has secured new investment to help expand its operations.
The round was led by Hiro Capital, with BoostVC, Maveron and TenOneTen Ventures also continuing support, seeing $6.3m in investment funding secured. A further $1.2m innovation loan was then added by Innovate UK.
The investment will see FitXR expand operations in Europe and North America whilst accelerating development of several new projects and services designed to help players stay active and healthy in VR.
“Over the last year, we have been redefining fitness and challenging people’s perceptions of what a fun and effective workout is, providing an alternative for people who want to keep fit but are unmotivated by the traditional fitness offerings,” said Sam Cole, co-founder of FitXR in a statement. “With BoxVR, we have captured the imaginations of players around the world and introduced them to a new form of exercise which is both immersive and enjoyable. We’re proud to partner with Hiro Capital who are leaders in the digital sports sector, and we look forward to breaking new boundaries with FitXR over the coming year.”
“Sam and his team are VR fitness heroes and impressive entrepreneurs. With the tech acceleration that has been happening in 2020 and the big changes in exercise and sports, FitXR is perfectly positioned to lead fitness in the Metaverse,” Luke Alvarez, Founding Managing Partner, Hiro Capital added. “At Hiro we are both gamers and sports/fitness nerds – as our second investment in digital sports and our third investment in VR/MR, FitXR is a perfect fit for our portfolio.”
BoxVR hit Early Access back in 2017 with an official launch then taking place last year. Supporting a wide range of headsets from Oculus Quest and PlayStation VR to PC VR headsets, the title offers a mixture of boxing-themed workouts to get your heart pumping. As FitXR reveals more details about its current projects, VRFocus will keep you updated.
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