seoulbased ai ar vr 24m investment, As part of its Series A investment round, 3i raises US$24M. A 24-million series A round of funding is being provided to 3I, a business with roots in Seoul that specialises in metaverse technologies, AI, and AR/VR.
The business, which specialises in metaverse technology, AI, augmented reality, and virtual reality, was able to raise its Series A round of finance, which came to little under $24 million ($28 billion won).
Four current investors committed $4 million to the round of financing, along with several new financial and strategic investors. The Korean Development Bank, LB Investment, DS Asset, YG Investment, Intops Investment, Enlight Ventures, NBH Capital, and Korean Asset Investment Securities also contributed to this round of fundraising in addition to SV Investment.
The company will spend a sizeable amount of the revenues for the creation of new products, the growth of its metaverse platform business, and the scaling out of numerous open positions in customer success, marketing, design, and engineering. The business also plans to make significant investments in the market’s perception of its brand during the coming year.
3i was established in 2017 and is run by Ken Kim, its CEO. It holds 34 technology-related patents and operates under the following two brands:
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