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Highland Europe leads $120M series B round for Zwift

Zwift LLC, a multiplayer online training and racing platform for runners and cyclists, obtained $120 million in a series B financing round led by London-based venture capital firm Highland Europe.

Other investors in the round include retail, consumer and leisure investment firm True; traditional sports and electronic sports investor Causeway Media; and returning London-based backer Novator.

Zwift will use the money to advance the growth of its new running discipline and expand into esports.