Japanese mobile gaming company COLOPL invested in California-based Zwift, a maker of immersive indoor cycling software. Financial terms of the investment were not disclosed. COLOPL recently established a $50 million fund to support virtual reality companies.
Zwift, the leader in immersive indoor cycling software, announced they had successfully finalized an equity investment earlier this week from noted Japanese game publishing company, COLOPL. This funding round will further enhance Zwift’s product development, drive growth in the user base, and advance Zwift’s year-round integration into the racing and training programs of cyclists around the globe.
“Zwift is a product with potential in the growing fitness tech market,” says Naruatsu Baba, president and CEO of COLOPL. “Zwift’s focus on mobile as an increasingly vital interface in their gaming experience holds a lot of promise.”
“COLOPL is a leader in mobile gaming and entertainment,” offers Zwift CEO and cofounder Eric Min. “Their investment in Zwift will not only allow us to realize our own vision more fully, but will open us up to expertise from one of the best in the business.”
COLOPL, founded in 2008, is the creator of dozens of popular mobile games like “Quiz RPG: The World of Mystic Wiz” and “Rune Story.” The company made an initial public offering in December 2012 and have recently established a $50 million fund to support virtual reality (VR) companies in Japan and abroad.
Built on a longstanding passion for the sport of cycling, Zwift is a company of dedicated cyclists that also happen to be experienced software and video game developers. Combining that passion and deep understanding of the cycling world, Zwift is the first company to use massive multiplayer gaming technology to bring the outdoor cycling experience indoors. Athletes from around the globe can ride with each other in rich, 3Dgenerated worlds simply by connecting their existing devices (e.g. trainers, power meters, heart rate monitors, etc) wirelessly via open industry standard ANT+ and BLE. From friendly competition to casual group rides & structured training programs, Zwift is building a community of like-minded athletes united in the pursuit of a better social cycling experience.