Nex builds Nex Playground, a compact console that lets children and families control games with body movements instead of handheld devices. The company announced more than $150 million in new equity and debt financing to expand the business internationally, widen retail distribution and add content.
The console connects to a television and uses its camera to translate players’ movements into games spanning sports, dance, fitness and learning. Motion data is processed on the device, Nex says, and a physical camera cover is built in. Buyers purchase the hardware, while a Play Pass subscription provides access to a catalog that now contains more than 60 games.
Nex says it has sold more than 1 million consoles and reached over 7,000 United States retail locations, including Costco, Target and Walmart. Its subscriber base has grown sevenfold in 18 months and is approaching 1 million, though the company describes passing that mark by year-end as a target rather than a current result.
The financing combines a Series E led by Baillie Gifford and BAI Capital with a new JPMorgan credit facility. Nex did not disclose how the package divides between equity and debt or provide a valuation, so the headline amount should not be read as more than $150 million of new equity.
The hardware also relies on an outside manufacturing partner. 36Kr reported that Skyworth Digital holds exclusive global production rights for Nex Playground and supplies display technology and intelligent hardware, while Nex provides the software and games. That division lets Nex concentrate on the player experience and content catalog while Skyworth handles production.
Nex plans to introduce Connected Play so families can play together from different households. After entering Canada, the United Kingdom and Ireland, the company says Germany will follow later in 2026, with Japan and South Korea planned for 2027.