HomeGeneralVR Startup HIKKY Raised $57m in Initial Series a Funding Towards Expansion

VR Startup HIKKY Raised $57m in Initial Series a Funding Towards Expansion

Virtual reality startup HIKKY Co., Ltd. raised 6.5 billion yen ($57 million) in the initial stage of their Series A fundraising round. The funds will go towards the development of their open metaverse, which will be developed through Vket Cloud, the comp proprietary browser-based VR engine for smartphones and desktops.

As such, HIKKY’s VR services will be expanded domestically and internationally, and its organizational structure will be strengthened as a result of the funds obtained. The company is also the organizer of the world’s largest VR event. They are considering raising more funds. However, they intend to retain their independence as a company.

Image: HIKKY

Growing the metaverse

HIKKY’s unique VR engine, Vket Cloud, produces its metaverse content. Users can get in simply through a URL; no need to download a dedicated mobile or desktop app, making it accessible through any device. The space has a multiplayer option that allows users to converse in real-time via text or voice.

Here, users can do the following:

  • Interact with others outside the confines of a single platform
  • Explore and communicate in an open-world environment
  • Host original material with their own domain
Image: HIKKY

Apart from this metaverse, HIKKY also runs Vket, one of the world’s largest VR event series. Tens of thousands of artists, dozens of multinational corporations, as well as a million users gather during these events. As such, this has become a major player in the VR events space, receiving several awards such as the 2020 VR Awards’ Marketing Grand Prize 2020, Japan’s XR Creative Awards’ Overall Grand Prize 2020, as well as two Guinness World Records for the most successful VR events in 2021.

According to CEO Yasushi Funakoshi, they plan to accelerate the growth of the business with the help of NTT DOCOMO and NTT Group’s communication infrastructure and global networks. In turn, HIKKY will continue to provide NTT DOCOMO with XR services, technology, and content.

YouTube: Virtual Market プロモーションムービー

Photo credit: The images used are owned by HIKKY Co., Ltd and have been provided for press usage.

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Raghul Manikandan
Tech Journalist