Singapore AR startup bags $3.8m to enter the metaverse

BuzzAR, a Singapore-based augmented reality (AR) and AI startup, has raised US$3.8 million in seed funding from F50 Elevate. The round also saw participation from Ian Wilson, former executive of Marina Bay Sands, and Peter Hlavnicka, co-founder of SenzeCare.

BuzzAR co-founders Bell Beh (left) and Ken Lim / Photo credit: BuzzAR

Founded in 2018, BuzzAR helps retail and commerce firms create personalized and location-based AR experiences for their customers. On top of that, it also acquired a mobile game called The Cooking Game VR.

The company was established by Bell Beh, who previously worked at Singtel and Marina Bay Sands, and Ken Lim, who has more than 10 years of experience as an engineer in the deeptech industry.

When the metaverse trend came, BuzzAR realized that it had developed some of its enablers, such as augmented and virtual reality technology, games, and avatar engines. Thus, it planned to capitalize on the trend by launching NFTs and social network features in 2022.

With the fresh funding, the startup aims to hire more employees and set up an office in the US. It also plans to launch an avatar NFT platform called CryptoToon in the coming weeks.

See also: Are SEA’s tech VCs missing out on the crypto craze?

In September last year, BuzzAR raised US$630,000 from revenue-based financing platform Choco Up. The startup is also a member of the Singapore Tourism Accelerator program.