BoxVR Studio FitXR Raises $7.5M Investment to Grow VR Fitness

FitXR, the studio behind VR health app BoxVR, right this moment introduced that it has raised $7.5 million to broaden its operations and VR health choices.

Following its first elevate of $1.25 million on the finish of 2018, FitXR has simply added one other $7.5 million value of runway to its VR health aspirations. The full comes within the type of a $6.three million Sequence A funding and a $1.2 million mortgage by way of a government-based UK innovation fund.

The Sequence A funding was led by Hiro Capital; the fund has additionally invested in VR startup LIV which focuses on blended actuality seize for VR experiences (together with BoxVR). BoostVC, Maveron, and TenOneTen Ventures additionally participated within the spherical.

Out there on Oculus Quest, Rift, Steam, and PSVR, the $30 BoxVR app is presently the corporate’s solely product providing. It’s a rhythm-based boxing recreation designed particularly for health. Its track-based ranges—which embrace punching, crouching, leaning, and blocking—vary from the size of a typical music to longer endurance-focused ranges going so long as 60 minutes.

FitXR says it plans to make use of its newest funding to broaden its European and North American operations, and to “speed up [the] launch of a number of thrilling new services and products for individuals to maintain slot in digital actuality.”

Whereas BoxVR is at present structured as a one-time buy (with non-obligatory DLC), we wouldn’t be stunned to see this funding used to transition the app (or its successor) to a subscription-based mannequin to capitalize on latest digital health traits and the app’s endless replayability.

Competing VR health app Supernatural made waves earlier this yr as the primary VR health app to be totally constructed round a subscription mannequin.

Whereas BoxVR doesn’t have the identical reputation as, say, Beat Saber, the most recent funding means that the app is seeing promising utilization metrics (like constant utilization and lengthy classes) which have traders excited.

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