A recent financing round netted Playpulse $2 million. The company plans on using this money to continue developing Playpulse One bikes which combine exercise and gaming into a single enjoyable experience. The organization also said these funds will be used to expand the business’ content library.
Many investors took part in this financing round. Participation came from Courtside VC and Initial Capital. Additional funds were acquired from angel investors such as Jamie Brooker (Kahoot), Johan Brand (Kahoot), Jasmine Maietta (Peloton), and Walter Cruttenden (Acorns).
“We are targeting families who aren’t hardcore gamers,” said Erling Magnus Solheim, CEO of Playpulse. “We can give them a level of immersion that can give us very good engagement with both kids and adults alike. Our goal is to make exercise fun.”
Earlier this year, the company unveiled its flagship product, the Playpulse One bike, which features a tv monitor built for gaming. The product has an MSRP value of $1,999. Additionally, the bike’s content library costs $19.99 per month following the conclusion of a free trial.
(All information was provided by Engadget, IGN, and VentureBeat)