VR fitness company FitXR has announced that it has secured $6.3m in investment funding, led by Hiro Capital, with continued support from U.S.-based BoostVC, Maveron and TenOneTen Ventures, together with an additional $1.2m in the form of an innovation loan, from Innovate UK.
The company, who had previously secured $1.25 million in seed funding from investors, will use this new investment to expand its operations in Europe and North America, as well as accelerating the launch of several new products and services.
“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. “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.”
The invesetment comes while the company is working on a series of product developments over the next 12 months.
Hiro Capital meanwhile, recently launched a a €100 million venture capital fund for video games, esports and related technology across the UK and the EU.
Cherry Freeman, Co-Founding Partner, Hiro Capital says “FitXR is the best-in-class within the VR fitness sector, creating a new category of experience in VR by redefining how people can get fit and strong. Achieving global recognition for FitXR’s ability to build a passionate community around its innovation and creativity makes this a very exciting investment for Hiro.”