Nex Playground Gaming Console Maker Raises More Than $150 Million in Funding, Niantic’s Jeff Shouger Joins as CFO — SkimNews
Get the Tech newsletter
Daily tech — startups, AI labs, chips, the launches that shape the next decade. Free.
- Nex raised more than $150 million in new financing to expand retail distribution and grow its content ecosystem with major gaming and entertainment partners.
- The late-stage round included a Series E led by Baillie Gifford and BAI Capital, with participation from NBA Investments, Logitech, Medici Capital Partners, and the Raine Group, alongside a new credit facility with JPMorgan.
- Nex Playground crossed more than 1 million units sold this year and is now distributed across 7,000+ U.S. retail locations including Costco, Sam's Club, Target, Walmart, and Best Buy.
- Nex's subscriber base grew sevenfold over the past 18 months and is approaching 1 million subscribers, a milestone the company expects to surpass by year-end.
- Nex plans to roll out "connected play" for families across households and expand into Germany later this year, with Japan and Korea targeted for 2027.
- Former Niantic executive Jeff Shouger joined as CFO, while gaming and technology veteran Bing Gordon was added to the company's board of directors.
Why it matters: Nex's sevenfold subscriber growth and 1 million-unit milestone in the same year of this raise show its family fitness-gaming niche is generating real recurring revenue ahead of its Europe and Asia push, with strategic backers including NBA Investments, Logitech, and JPMorgan signaling institutional confidence in the expansion.
Ask SkimNews
