Nex Playground raises $150m as hardware sales pass one million

Nex has raised $150 million in funding as sales of its family-oriented active console Nex Playground passed one million units. Its subscriber base grew sevenfold over the past 18 months to nearly one million active subscribers, a figure Nex expects to surpass by the end of the year. The Series E round was co-led by Baillie Gifford and BAI Capital, with participation from NBA Investments, Logitech, Medici Capital Partners and the Raine Group, and will fund international expansion including Germany later this year and Japan and Korea in 2027. Nex also appointed former Niantic and Zynga executive Jeff Shouger as CFO, with Bing Gordon joining its board.