Hadean raises £4m for metaverse infrastructure tech
Hadean, a London-based metaverse startup, has raised $5m (£4.09m) to build out its immersive infrastructure.
Hadean develops web3 components that are used to develop metaverse experiences. The company was founded with the goal of expanding the scale of immersive experiences, which despite Facebook’s expensive push into virtual reality, have so far been limited.
“Our objective is to bridge physical and virtual worlds to improve decision-making, support the creator economy and, ultimately, enhance the quality of life in the real world,” said Hadean CEO Craig Beddis.
“We believe that the metaverse’s true success and widespread adoption depend on the creators’ ability to build their own experiences at scale, using open and robust metaverse-as-a-service technologies.”
Hadean frequently works with video game companies to boost the capabilities of their immersive reality infrastructure.
The company has previously attracted investment from Epic Games, known for its online battle royale game Fortnite, and for developing Unreal Engine.
The new funds came in a round led by Ericsson Ventures and also included participation from Metrea Discovery, VU Venture Partners, Sanctor Capital and Tirta Ventures.
“The metaverse is one of the most important 5G use cases. Hadean provides a scalable, proven infrastructure to power the future of the metaverse,” said Paul McNamara, VP of corporate development at Ericsson Ventures.
“Together with 5G, Hadean will unlock unlimited possibilities within the metaverse. Ericsson Ventures is excited to support Hadean in its journey to further drive the immersive experience for both enterprises and consumers.”