Nex secures over $150m in equity and credit financing
Baillie Gifford and BAI Capital led the Series E, alongside a new JPMorgan credit facility.
The combined financing exceeds $150m; the announcement does not separate equity from debt. Named backers also include NBA Investments, Logitech, Medici Capital Partners and The Raine Group.
Nex plans to expand internationally, broaden retail distribution and grow its content ecosystem. Its console is already sold through more than 7,000 US retail locations, with expansion into Canada, the UK, Ireland and Germany.
The company will add Connected Play for multiplayer between households. Its Play Pass catalog already includes more than 60 games.
Use of funds
Expand internationally
Broaden retail distribution
Grow the content ecosystem with gaming and entertainment partners
Introduce Connected Play features for cross-household multiplayer