Social VR Startup Raises $57 Million Investment Led by Major Japanese Mobile Network

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Japanese social VR startup HIKKY announced today that it has raised ¥6.5 billion (~$57 million), led by Japanese mobile network operator NTT Docomo. The startup says it will use the funds to expand its web-based metaverse platform.

Founded in 2018, Japan-based Hikky is best known for its series of ‘Vket’ events, virtual marketplaces where exhibitors market and sell real and virtual goods to attendees.

Image courtesy Hikky

The company says that its virtual events have drawn more than a million visitors and have attracted major brands as exhibitors like HP, Tencent, Disney, Bandai Namco, Audi, and more, algonside independent creators selling virtual goods.

A Disney branded booth at a Vket event | Image courtesy Hikky

Following its latest Vket 6 event this Summer, the company today announced it has raised a ¥6.5 billion (~$57 million) Series A funding round, led by Japanese mobile network operator NTT Docomo (other participants weren’t revealed). Hikky says the amount is the “initial stage” of the Series A funding round, and that it is open to additional funding.

The company says the capital will be used to strengthen its foundation, expand products both domestically and abroad, and continue to develop its web-based metaverse platform, Vket Cloud.

While the company’s Vket events have largely been hosted in social VR platform VRChat, Hikky is betting long term on its own Vket Cloud platform, which it says is designed as an open metaverse platform where users can host virtual spaces on their own domains which are accessible through any web browser, be it in or out of VR.

The post Social VR Startup Raises $57 Million Investment Led by Major Japanese Mobile Network appeared first on Road to VR.



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