2023.11.30

Thirdverse Raises $8 Million in Latest Funding Round, Surpasses $38 Million Total to Accelerate VR Gaming Expansion

SAN FRANCISCO, Calif. - November 30, 2023 - Thirdverse, Co., Ltd., a virtual reality game development, distribution and management company, announced the successful completion of an $8 million USD funding round through a third-party allocation of new shares. This latest investment round brings the company's total funding to an impressive $38 million USD, including the initial capital raised prior to the corporate spin-off on May 1, 2021.

Thirdverse has ambitious plans to intensify its focus on the development and worldwide marketing of two groundbreaking VR titles. "X8," a VR multiplayer hero shooter, and "SOUL COVENANT," a thrilling VR dramatic action game currently under development.

On November 9, 2023, Thirdverse's highly anticipated VR title, "X8," developed by Thirdverse US Studios, made its official debut on the Meta Quest store and Steam store. Soon, the company will reveal service launch dates for the PlayStation VR2 and PICO versions. “X8” previously entered Early Access on the Meta Quest App Lab and Steam in May 2023, rapidly accumulating 180,000 downloads in approximately five months since its initial release. The game has also successfully paved the way for VR esports in Japan and abroad, having already hosted three esports events. At the Tokyo Game Show 2023, Thirdverse unveiled "SOUL COVENANT," an immersive VR dramatic action game with an official release scheduled for early 2024.

Thirdverse's latest funding round attracted a diverse group of investors who share the company's vision for the future of VR gaming. These investors recognize the tremendous potential of Thirdverse and its innovative approach to the industry. The company is committed to delivering immersive and cutting-edge experiences that captivate VR enthusiasts worldwide.

Hironao Kunimitsu, CEO of Thirdverse, said: "We are thrilled to have raised $8 million USD in funding to continue our mission of pushing the boundaries of VR gaming. The success of 'X8' and our upcoming 'SOUL COVENANT' release demonstrate the incredible potential of VR, and we are excited to bring these experiences to an ever-growing global audience."

Hiroyuki Watanabe, CEO of B Dash Ventures Inc., said: "The virtual reality market is rapidly growing. With Apple and Meta striving to bring VR into the mainstream, we anticipate the global enthusiasm for VR will continue to grow. Thirdverse’s VR games have the potential to be enjoyed worldwide as evidenced by “X8”, which has been played globally since its launch. Additionally, we expect that the upcoming game title “SOUL COVENANT” will provide an immersive experience for everyone with its unique worldview and narrative. B Dash Ventures will continue to support Thirdverse, a leading VR company representing Japan.”

Junichi Taguchi, General Manager of Mitsubishi UFJ Capital., Ltd. Investment Department No.2, said: "We've been involved in the gaming industry for many years, and it's incredible to see that Thirdverse is at the forefront of VR gaming and esports. VR gaming is on the cusp of a transformative era and Thirdverse's vision aligns with this exciting future, and I'm thrilled to join them on this journey.”

Thirdverse remains dedicated to reshaping the future of VR gaming, delivering captivating experiences that transport players to new realms of entertainment.

For more information about Thirdverse and its innovative VR gaming projects, please visit https://www.thirdverse.io/en/.

About Thirdverse, Co., Ltd

Founded in 2020, Thirdverse, Co., Ltd is a virtual reality game development, distribution and management company paving the path to the metaverse with two studios in Japan and the United States.

In August 2022, the studio launched its next-generation sword-fighting VR title “ALTAIR BREAKER'' for Meta Quest 2 and PCVR. In November 2023, Thirdverse officially launched its multiplayer VR tactical hero shooter title called “X8'' developed by its US Studio. At the Tokyo Game Show 2023, the company also revealed its newest VR project “SOUL COVENANT”, set to release in early 2024. Currently, Thirdverse plans to strengthen the recruitment of VR game creators for the development of new titles, scheduled for release in 2023 and beyond. For more information, visit www.thirdverse.io.

(C) Thirdverse, Co., Ltd