FitXR, the developer behind the highly-popular VR fitness title, BoxVR, has today announced that it has netted itself new funds to continue helping the company expand moving forward.
In its latest round of funding, FitXR has now secured $7.5 million in investments from multiple sources. Of those donors, Hiro Capital, a venture capital group located out of Europe, donated the largest sum of money in the form of $6.3 million. The additional $1.2 million then has come from a loan by way of Innovate UK.
These new funds join FitXR’s previously received funding total of $1.25 million from other investors, nearly bringing the developer to $9 million raised in total. As for what FitXR plans to do with this money, it is said to be looking to expand its capabilities within both Europ and North America. Furthermore, it will be able 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,” explained Sam Cole, one of the co-founders 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.”
Speaking as to why they chose to make this investment, Hiro Capital’s Co-Founding partner, Cherry Freeman 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.”
Currently, FitXR is said to be working on a full series of new products, which is definitely exciting. While there have become more and more VR fitness games over time as the virtual reality space has continued to grow, FitXR has been a developer that continues to specifically look to create experiences in the space that will help keep you active and in shape. Hopefully, it won’t be too long until we see just what the studio is cooking up next.
As for BoxVR, the game is currently available to pick up over on Steam for $29.99 and is available on Valve Index, HTC Vive, Windows Mixed Reality, Oculus Quest, and Oculus Rift headsets. In addition, you can also snag it for PlayStation VR, too.