Zwift raises $27 million from investment drive

Online multiplayer video ‘game’ technology company Zwift has raised $27 million in Series A funding to build upon its already popular indoor cycling offering.

Among the investors are said to be private equity firms, entrepreneurs and bicycle industry businesses like Samchuly, a manufacturer of bicycle parts based in Korea.

With the additional funding, Zwift now has a pot of $45 million, in part due to investments from companies like COLOPL, a Japanese gaming business that took a shine the connected indoor training concept back in March.

Now available to iOS users, the system connects riders around the globe for virtual group rides on real world segments. Costing just $10 a month, the service has proved popular for those putting in the winter training miles. Over 200,000 are currently signed up, though not all of these are paying users just yet with a free trial period offered.