FitXR, the VR fitness company, today announces that it has secured £5m in investment funding, led by Hiro Capital, with continued support from US-based BoostVC, Maveron and TenOneTen Ventures, together with an additional £1m in the form of an innovation loan, from Innovate UK.
FitXR, who had previously secured c.£1m in seed funding from investors, will use the new investment to expand its operations in Europe and North America, and to accelerate launch of several exciting new products and services for people to keep fit in virtual reality.
“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 investment comes at an exciting time for FitXR. The company is working on a series of product developments over the next 12 months that are set to redefine fitness and cement FitXR as the world’s leading VR fitness company.
Cherry Freeman, Co-Founding Partner, Hiro Capital said: “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.”