Nex Playground maker Nex raises over $150 million to expand globally

Nex, the company behind the controller-free Nex Playground console, has raised over $150 million in equity and debt financing to accelerate its international expansion, with Europe and Asia as key target regions. Nex Playground has sold over 1 million units worldwide and outsold the Xbox Series X|S in the United States during the 2025 holiday season. The financing includes a Series E led by Baillie Gifford and BAI Capital with participation from NBA Investments, Logitech, Medici Capital Partners and the Raine Group, plus a new credit facility with JPMorgan, and Nex has named former Niantic, Zynga and EA executive Jeff Shouger as chief financial officer.