---
title: "Nex Secures $150M-Plus of Series E Equity and Debt"
description: "Nex secured more than $150 million through a Series E and a JPMorgan credit facility. The company did not disclose the equity-debt split."
date: 2026-09-25T00:00:00.000Z
source: https://venturecapitaltracker.com/2026-nex-150m-series-e-jpmorgan-debt-playground
---

# Nex Secures $150M-Plus of Series E Equity and Debt

> Nex secured more than $150 million through a Series E and a JPMorgan credit facility. The company did not disclose the equity-debt split.

**Nex secured more than $150 million in combined equity and debt financing** on September 17, 2026.

Baillie Gifford and BAI Capital led the Series E. NBA Investments, Logitech, Medici Capital Partners and Raine Group participated. JPMorgan provided a new credit facility.

## Deal terms

| Field | Detail |
| --- | --- |
| Company | [Nex](/startup/nex-playground) |
| Total package | **More than $150M** |
| Equity | Series E; amount undisclosed |
| Equity leads | Baillie Gifford; BAI Capital |
| Other investors | NBA Investments; Logitech; Medici; Raine Group |
| Debt | JPMorgan credit facility; amount undisclosed |
| Valuation | Not disclosed |

## Why the mix matters

The company did not separate the Series E from the credit facility, so the full amount cannot be described as equity. Debt can finance inventory and international distribution without the dilution of a larger venture round, but its pricing and covenants remain undisclosed.

Nex says its motion-controlled Playground console has sold more than one million units, is available in more than 7,000 US stores and is approaching one million subscribers. Those metrics make it a rare venture-backed consumer-hardware platform with recurring content revenue.

## What remains unknown

Nex did not disclose the equity-debt split, valuation, revenue, hardware margin, churn or the credit facility's interest rate and maturity. Sales and subscriber figures are company-provided.

## Bottom line

The accurate headline is **more than $150 million across Series E equity and JPMorgan debt**. Calling the entire package a Series E would overstate the venture capital component.

**By:** [Venture Capital Tracker](https://venturecapitaltracker.com/editorial-policy)
**Last updated:** September 25, 2026

**Editorial note:** AI tools assisted with research, structure, or drafting. Venture Capital Tracker retains human editorial responsibility for factual accuracy, relevance, and source quality before publication.