VR Fitness Developer FitXR Secures $1.25 Million In Seed Funding
“Boost VC Leads Initial Investment Round; First Product, “BoxVR,” Already A Hit On Steam, Oculus”
FitXR, a pioneer in the burgeoning VR fitness sector, today announced that it has secured $1.25 million in seed funding from venture firms Boost VC, Maveron, and TenOneTen, as well as private sources.
The company, which had previously received a small pre-seed funding round, plans to use the new investment to expand its operations both in Europe and North America, and accelerate development of several upcoming products and services.
Individual investors John Vechey (co-founder, PopCap Games, Pluto VR) and Eytan Elbaz (co-founder, Applied Semantics, Social Native, et al.), and Harri Marrinen (co-founder, Rocket Pack) also contributed to the funding round.
The company’s first product, a boxing-inspired, gamified fitness app called BoxVR, has been a best-seller in both the Oculus and Steam stores since launching earlier this year, attracting nearly 50,000 paying users with no marketing or promotional support.
To date, BoxVR customers’ workouts average 27 minutes per session – and collectively, BoxVR users have already burned more than 60 million calories.
“FitXR is on an exciting trajectory, disrupting the multibillion-dollar fitness industry while also addressing the global VR market, which is expected to grow to more than $30 billion in the next few years,” said Adam Draper, founder and managing director of Boost VC. “FitXR is poised for significant success, and we’re super excited to be leading this round.”
“VR workouts have the potential to turn anyone into a fitness buff, and we’re intent on building the most effective fitness apps for all kinds of alternate realities, beginning with VR,” said Sam Cole, co-founder of FitXR. “From the veteran designers, producers and engineers among our senior executives, to the amazing lineup of real-world fitness instructors and advisors with whom we’ve partnered, we aim to be a leader in VR fitness now and going forward.”
FitXR is breaking new ground in virtual fitness, helping to define the category with award-winning apps and services for all popular VR, AR and MR platforms as they become available. The company’s first app, BoxVR, has won multiple awards and been described as “Guitar Hero crossed with a studio boxing workout.” Applying a range of game-like elements and effects to ensure high engagement without compromising the core workout experience, FitXR is building a suite of pro-quality fitness apps to give anyone, anywhere the precise workout experience they want, whenever they want it.
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