Aditya Hadi Pratama · · 1 min readSingapore metaverse firm bags $36.8m in Sequoia-led round
Bud, a Singapore-based metaverse platform, has raised US$36.8 million in a series B funding round led by Sequoia Capital India, with participation from ClearVue Partners, GGV Capital, and Qiming Venture Partners.
The deal pushes the firm’s total funding raised to more than US$60 million.
Image credit: Bud
Founded in 2019, Bud allows users with no coding knowledge to create and share interactive 3D experiences. Users can build their own worlds by using geometric modules, and the platform also provides tools to add music, videos, and lighting adjustments.
To date, the company’s platform has been used to create 15 million 3D assets and experiences. These assets have been traded among users more than 150 million times.
Bud was established by former Snap engineers Risa Feng and Shawn Lin. The company plans to use the fresh funding to develop its creation tools, grow its user base, and roll out Web3 products for its ecosystem.
It also aims to launch its own NFT marketplace in the near future.
See also: Behind the metaverse real estate rush
Other investors in this round include:
- NetEase
- Northern Light Venture Capital
- Source Code Capital
Editing by Miguel Cordon and Lorenzo Kyle Subido
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