Nex raises $150m to expand Nex Playground console globally
The active play platform, which has sold over 1m units and grown its subscriber base sevenfold in 18 months, plans expansion into Germany this year and Japan and Korea by 2027.
Nex has secured over $150 million in new equity and debt financing to expand its Nex Playground console internationally. The Series E round was led by Baillie Gifford and BAI Capital, with participation from NBA Investments, Logitech, Medici Capital Partners and the Raine Group. JPMorgan provided a new credit facility.
The Nex Playground has surpassed 1 million units sold and is now available across more than 7,000 US retail locations including Costco, Sam's Club, Target, Walmart and Best Buy. The platform's subscriber base has grown sevenfold over the past 18 months and is approaching 1 million subscribers, a milestone the company expects to reach by the end of 2026.
The company plans to use the capital to broaden retail distribution, expand its content ecosystem and support international growth. Germany is targeted for later this year, while Japan and Korea are planned for 2027. Nex Playground is already available in Canada, the UK and Republic of Ireland.
The console currently offers more than 60 games spanning music, sports, fitness, party and learning, including experiences featuring Bluey, Barbie, Kung Fu Panda and Peppa Pig. Upcoming titles include NFL Flag, Dude Perfect Trickshot Challenge and Pac-Man with Bandai Namco Entertainment. Nex is also developing Connected Play, which will enable families to play together across different households and distances.
Nex has appointed Jeff Shouger, former CFO of Niantic, as its new CFO. Gaming industry veteran Bing Gordon has joined the board alongside Shouger.
Sources
- PocketGamer.bizEstablished publication · recorded Sep 21, 2026Nex raises over $150m to take Nex Playground global