Japanese mobile games 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.
“We see VR’s potential to become the lifestyle disruptor smartphones became under 10 years ago,” Naruatsu Baba, CEO of Colopl, says. “Like PCs and the Internet, it changed how consumers interact with entertainment and media as a whole. Internet giants like Facebook have bet big bucks on the hardware, and the industry’s worth is predicted to reach around $30 billion by 2020. Colopl entered smartphone gaming in its early days, so we see the value in investing in a growing business early.”
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, 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.