Japanese Social VR Startup HIKKY Raises $57 Million
The Japanese social VR startup HIKKY announced this week that it has raised $57 million in a Series A funding round. The funding was led by NTT Docomo, the Japanese mobile network operator. The funds will be used to expand the startup’s web-based metaverse platform.
HIKKY was founded in 2018 and is better known for its ‘Vket’ events series, a virtual marketplace that allows exhibitors to market and sell both real and virtual goods to the event attendees.
According to the social VR company, its virtual events have so far attracted over a million visitors. The events have also drawn major brands such as Tencent, HP, Audi, Bandai Namco, and Disney among others. The events also attract multiple independent creators that sell virtual goods.
The company stated that the amount raised is an initial stage of the Series A funding round and that it was still open for extra funding.
HIKKY stated the new funds will be used to strengthen the company’s foundation and to expand its products locally and abroad. The company will also use the funds to continue developing its web-based metaverse known as Vket Cloud.
HIKKY’s Vket events have mostly been hosted on the social VR platform VRChat but over the long term, the company wants to do this on its own Vket Cloud platform which it describes as an open metaverse platform that allows users to host virtual spaces on their own domains that can be accessed via any browser, both inside and outside virtual reality.