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VR startup HIKKY bags US$57m in funding to push open metaverse project

Tokyo, Japan – Virtual reality (VR) startup HIKKY has announced that it has successfully raised US$57m or around ¥6.5b during its recently-concluded series A funding round. Part of the funding will be used in developing and operating a new open metaverse project using the company’s Vket Cloud, a browser-based VR engine.

The company will also use said funding to help expand their virtual reality services both domestically and abroad, as well as to strengthen their organizational foundation.

The Vket Cloud is used to create metaverse content that users can access with a link click, without a dedicated computer or mobile application. It also supports multiplayer mode, and users can enjoy communicating with others in the same space with voice or text chat.

According to Yasushi Funakoshi, CEO at HIKKY, they will be accelerating their metaverse business with the help of communication infrastructure, research institutes, and global networks of the Japanese mobile phone operator NTT DOCOMO, which is under the Nippon Telegraph and Telephone (NTT) Group.

“We will continue to provide NTT DOCOMO with XR services, technologies, and content production as per our strengths. We are extremely grateful to all the creators who have supported us, as well as the visitors and companies who have taken part in Vket events,” Funakoshi said.

HIKKY is known for hosting a VR-based event called Vket, where thousands of artists, many international corporate sponsors, and millions of users visit these events. For this year, Vket 2021 will run from 4 to 19 December this year.