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South Korean metaverse startup raises $25M with help from Samsung

Categories Edge Computing News  |  Edge Startups  |  Funding
South Korean metaverse startup raises $25M with help from Samsung

South Korean metaverse startup DoubleMe has raised $25 million in Series A funding in a round that was led by Coentry Investment and NH Investment, along with its fellow national company Samsung Electronics, according to Tech in Asia.

DoubleMe is a metaverse company founded in 2014 with offices in San Jose, California; Seoul, South Korea; and London, England, that offers a range of VR and AR products. Its portfolio includes ‘HoloPort,’ a software product that scans a person with a 3D camera to form a 3D projection, and ‘TwinWorld,’ a metaverse world.

Tech in Asia reported that DoubleMe will use the funding for product development, customer acquisition, marketing, and hiring new employees. It also seeks to launch a commercial version of TwinWorld later in 2022, the report said.

According to Crunchbase, DoubleMe has raised $41.7 million over 19 funding rounds, including the most recent round.

It’s been another good week for funding metaverse companies. UK-based metaverse technology company Improbable raised $150 million in funding to develop M2 (pronounced “M Squared”), a blockchain-enabled technology that allows different virtual worlds to interact with each other.

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