Nex announced more than $150 million in equity and debt financing on September 17 to expand its controller-free Nex Playground gaming system internationally. The funding was among the largest private gaming financing rounds listed in Drake Star's Q3 2026 Global Gaming Report, released October 13.
Nex Playground is already available in the United States, Canada, the United Kingdom and the Republic of Ireland. The company plans to expand further into Europe and Asia while adding games and increasing retail distribution. In September, Nex reported more than one million systems sold, with its subscriber base approaching one million.
Nex Targets More Markets in Europe and Asia
The $150 million financing combines money from investors with access to borrowed funds. A private investment round, known as a Series E, was led by Baillie Gifford and BAI Capital. NBA Investments, Logitech, Medici Capital Partners and the Raine Group also participated.
There's also a credit facility with JPMorgan, which gives Nex access to borrowed money as it expands. Unlike investment in exchange for an ownership stake, borrowed money generally needs to be repaid. The announcement doesn't specify how much of the financing comes from each source.
The expansion plans include a launch in Germany before the end of 2026, followed by Japan and South Korea in 2027.
Nex Playground is already sold at more than 7,000 retail locations across the United States, including Walmart, Target, Costco and Best Buy. Expanding that retail presence internationally is another part of the plan.
There are also changes happening behind the scenes. Former Niantic CFO Jeff Shouger has joined Nex as Chief Financial Officer. Shouger and former Electronic Arts executive Bing Gordon have also joined its board of directors.
Nex Nears One Million Subscribers
When we covered Nex Playground's spring game lineup in March, the system was expected to cross one million lifetime sales that month. By September, it had officially passed that milestone.
Subscriptions have also grown considerably. Nex's September figures put its subscriber base at nearly one million, following sevenfold growth over the previous 18 months. The company was expecting to reach one million subscribers before the end of 2026.
The game library has grown to more than 60 games, including experiences featuring Bluey, Barbie and Kung Fu Panda. Many of these games are available through Play Pass, the subscription service sold separately from Nex Playground hardware.
The latest addition is NBA Versus, which launched October 20. Developed in collaboration with the NBA, the game uses body movements to dribble, shoot, steal and block during one-on-one basketball matches.
Players can also unlock jerseys, shorts, basketballs and other items inspired by all 30 NBA teams. NBA Versus is included with Play Pass.
Connected Play Testing Expands With Family Events
Another part of Nex's expansion involves Connected Play, a feature that will let families connect and play games together from different households.
A small group of families has been testing Connected Play in beta. On October 15, testing expanded with Connected Play Events, giving connected households a way to compete without having to play at the same time.
Each household can complete challenges whenever they're available, then compare scores and standings with their approved Trusted Connections. Adults control who their household connects with through PlayOS Family Tools, and both households must approve the connection.
There's no voice, text or video chat between households.
The first event, Nex Sports Day, runs from October 15 to November 15. Families participating in the beta can earn points through challenges in Bluey: Bust-a-Move, Homerun Heroes and Tennis Smash.
Connected Play Events remain in beta for now. Feedback from participating families will help shape the feature before a wider release.
Jon Scarr
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