US$24M is raised by 3i as part of its Series A funding round. SV Investments leads a 24-million series A round of funding for 3I, a Seoul-based startup that focuses on metaverse technology, AI, and AR/VR.
The company, which specializes in metaverse technology, artificial intelligence, augmented and virtual reality, was raised enough money to raise its Series A round of funding which was nearly $24 million ($28 billion won).
Several new financial and strategic investors participated in the round of financing, and four existing investors contributed $4 million. In addition to SV Investment, Korea Asset Investment Securities, Korean Development Bank, LB Investment, DS Asset, YG Investment, Intops Investment, Enlight Ventures, NBH Capital and Korean Asset Investment Securities participated in this round of funding..
A significant portion of the proceeds will be used by the company for the development of new products, the expansion of its metaverse platform business, and the scale out of multiple open positions in recruitment, marketing, customer success, design and engineering. Additionally, over the next year, the company intends to invest heavily in its brand experience in the market.
Founded in 2017, and led by Ken Kim, its CEO, 3i has 34 patents in the area of technology, and has two brands to its name:
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