Miguel Cordon · · 1 min readSG gaming firm scores $6m in Sea-anchored round
Singapore-headquartered Refract, an AI-powered gaming firm, has raised over US$6 million in a round anchored by Sea Group – the company behind game developer Garena and ecommerce titan Shopee.
Photo credit: Refract
Established in 2018, Refract publishes games and experiences in the space of extended reality (XR), which adds digital elements to a real-world environment using tech like AI, virtual reality, and mixed reality. The firm said it works with the likes of World Taekwondo as part of its virtual sports program.
The company recently completed a crowdfunding campaign on Kickstarter for Axis, its motion capture tech. It also acquired Singapore-based gaming firm Deep Dive Studios.
Refract plans to use the new money to continue working on its Axis tech, following the creation of its XR game development division. Refract aims to feature Axis at the 2022 Global Esports Games in Istanbul.
See also: Series SEA: Who’s investing in the region’s AI startups?
The company is helmed by CEO Michael Chng, who previously served as a partner and business development executive at Massive Collective Events. He is joined by executive director Chong Geng Ng, who’s also the founder of the Global Esports Federation.
Correction (January 25, 4:00 pm SGT): This article was updated to say Sea anchored, not led, the round.
Editing by Lorenzo Kyle Subido
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