Korean 3D spatial information apparatus startup Urbanbase closes $11.1M Series B+ round

Urbanbase, a Seoul-based organization that fosters a 3D spatial information stage for inside arranging and configuration, declared today it has raised $11.1 million (13 billion won) in a Series B round as it increases.

Korean 3D spatial information apparatus startup Urbanbase closes $11.1M Series B+ round

This round of subsidizing was driven by Hanwha Hotels and Resorts, which is an auxiliary of South Korean combination Hanwha Corporation.

Urbanbase, established in 2013 by CEO and a previous modeller Jinu Ha, has now raised $20 million (roughly 23 billion won) altogether. 

Existing financial backers didn't join this round. The organization had raised a Series A subsidizing of $1.8 million and an extra $1.2 million out of 2017 and its first Series B round in April 2020, from sponsors that included South Korea-based Shinsegae Information and Communication, Woomi Construction, SL Investment, KDB Capital, Shinhan Capital, Enlight Ventures, CKD Venture Capital and Breeze Investment, Ha said.

The furthest down the line subsidizing will be utilized for improving its B2B SaaS, putting resources into R&D for cutting edge computer-generated reality (VR), expanded reality (AR) and 3D devices, which are viewed as centre innovations of the metaverse that is the new business Urbanbase plans to enter, as per Ha. The worldwide metaverse market size is projected to increase $280 billion by 2025 from $30.7 billion out of 2021, in light of Strategy Analytics' report.

Organizations that emphasise promising circumstances in the metaverse have been developing as a component of a cutting edge way to deal with building feasible plans of action in regions like virtual and increased reality, and all the equipment and programming and new tech that are being worked for them. Enormous Tech enterprises, going from Facebook, Intel to Microsoft are focusing to move nearby. Apple additionally swam into the space of augmented reality, chipping away at fostering a very good quality VR headset.

The urban base likewise plans to update its home inside the programming stage, Urbanbase Studio, which has capacities to change 2D indoor space pictures into 3D presentations through Urban Bases licensed calculation, imagine inside items in increased reality and examine spatial pictures dependent on the AI innovation.