FitXR Recently Received Funding to Further Disrupt the Workout Industry
Justin Lam — November 12, 2018 — Tech
References: fitxr & venturebeat
FitXR, developers of the fitness game BoxVR, recently received $1.25 million in funding in an attempt to further development towards exercise-encouraging VR games. This funding could prove pivotal for FitXR as its flagship BoxVR title does not have any sort of marketing or promotional support. Despite this, the game has already garnered 50,000 paying users with customers' workouts lasting 27 minutes per session and users having burned 60 million calories.
According to one of the funders, "FitXR is on an exciting trajectory, disrupting the multibillion-dollar fitness industry while also addressing the global VR market, which is expected to grow to more than $30 billion in the next few years.” The funding garnered from these investments will be used to expand operations in Europe and North America and will further fund the development of new games.
According to one of the funders, "FitXR is on an exciting trajectory, disrupting the multibillion-dollar fitness industry while also addressing the global VR market, which is expected to grow to more than $30 billion in the next few years.” The funding garnered from these investments will be used to expand operations in Europe and North America and will further fund the development of new games.
Trend Themes
1. Exercise-encouraging VR Games - Developing VR games that encourage exercise can disrupt the traditional workout industry by providing a more immersive and engaging fitness experience.
2. Expanding VR Market - The growing VR market presents opportunities for disruptive innovation in various industries, including fitness, entertainment, and education.
3. Funding for VR Fitness Startups - Increasing funding for VR fitness startups can drive disruptive innovation in the fitness industry and contribute to the growth of the VR market.
Industry Implications
1. Fitness Industry - Incorporating VR technology into fitness can disrupt traditional workout methods and attract a new generation of health-conscious consumers.
2. Entertainment Industry - Developing exercise-encouraging VR games can disrupt the entertainment industry by offering a novel and immersive form of physical activity and leisure.
3. Virtual Reality (VR) Industry - The VR market has the potential for disruptive innovation through the development of exercise-focused VR games and applications for fitness and beyond.
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