A Korean metaverse startup, Doubleme, is said to have raised $25 million in a Series A round that saw the leading South Korean electronics manufacturer Samsung Electronics take part.
The South Korean electronics and smartphone maker Samsung is reported to have participated in Series A funding which raised $25 million for a Korea-based metaverse startup, Doubleme. The round was led by Coentry Investment and NH Investment.
Doubleme also aims to commercially launch a Twin World metaverse platform that supports artificial reality devices later in the year, the report added.
Twin World, which was launched in November 2020, allows users to create an artificial reality experience in any physical location. Since its launch, the platform has generated about $4.5 million in revenue from its paying customers that are found across 17 cities.
Prior to the latest funding round, Doubleme had previously raised $1 million in seeding funding. In addition, the startup had also received a $16 million grant from the South Korean and the U.K. government. Samsung has been doubling-down on metaverse and NFT concepts for quite some time.
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