August 11, 2022

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VR basketball app Gymnasium Elegance raises $8M forward of fall release

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Gymnasium Elegance, a VR-basketball app, nowadays introduced it had closed an $8 million spherical of investment. Andreessen Horowitz (a16z) led the spherical, with participation from Y Combinator.

The VR app introduced within the Meta Quest App Lab, the place it’s lately one of the vital in style apps, having been downloaded by means of over 1 million customers. It’s a mixture of a sports activities app and a social area, and the creators hope to release its at the Meta Quest retailer later this 12 months.

Paul Katsen, co-founder and CPO of Gymnasium Elegance, mentioned in a observation, “Gymnasium Elegance is greater than a recreation, it’s a virtual game. It permits you to dunk like a professional, change into a basketball celebrity, watch, compete, cheer, and get all for the entire enjoy of the game. Identical to with actual sports activities, we imagine virtual sports activities will see thriving world communities, leagues, leisure and occasions, model, trade, health, and extra.”

Andrew Chen, spouse at Andreessen Horowitz, added, “We’re satisfied that video games, digital worlds and virtual sports activities would be the new social networks. Gymnasium Elegance indicators the morning time of virtual sports activities. It has the traction, and has the proper crew in the back of it to understand the real doable of social VR. We’re sturdy believers within the imaginative and prescient and the crew who’ve already confirmed Gymnasium Elegance has a large target market and alternative.”

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