Japanese Virtual IP Firm Raises $10 Million for Metaverse Play
Japan-based virtual IP firm Brave Group Inc raised $10 million in fresh capital as it looks to expand its business into the metaverse and web3 domains. The latest funding round came from Japanese investors like Dawn Capital and Osaka Gas Co as well as from foreign and individual investors. With the latest round of funding, the company has now raised total capital of $18 million.
Brave Group is planning to use its latest infusion of funds to strengthen its current business operations, expand globally, build additional “Brave Engine” products as well as expand its solution services for its clients in the metaverse marketing business. The new capital will also go into strengthening its management structure and developing other new businesses.
The company has made recent business moves geared at strengthening its alliances for global development such as its collaboration with “MyAnimeList” which currently runs one of the largest animation communities in the world. In May 2022, Brave Group entered into a business alliance with the Indonesian version of Billboard, Billboard Indonesia.
Apart from the metaverse marketing business that it launched last year, Brave Group has also built various solution services geared at corporate clients and the company is gradually creating its track record in this area, according to a press release.
As the metaverse gradually emerges and blurs the lines between the real and virtual worlds, there will be new forms of entertainment that will see the birth of new content IPs. A partner at Dawn Capital, Kazuhiro Ishikura hopes that as the metaverse grows, Brave Group’s content will be at the core of the emerging and enthusiastic virtual communities. Ishikura also hopes Japan’s well-developed anime and manga culture will also find an outlet in the metaverse.
Brave Group CEO Keito Noguchi said that the funding will be used to maximize the impact of the company’s IP in Japan and across the world. He promised that the company has other initiatives in the works and the community should look forward to a “brand-new reborn Brave group.”