Metaverse platform Spatial assembled a Series B funding round worth about US$25 million, with new investments from Maven Growth Partners, Pine Venture Partners, South Korea’s KB Investment, Korea Investment Partners, Mirae Asset and others.
Fast facts
- With the Series B, Spatial gathered an accumulated investment amount of over US$49.6 million. Investors from past funds included Inovia Capital, White Star Capital and Lerer Hippeau.
- New York-based Spatial, which was launched in 2017, recently changed business paths from augmented reality (AR) and virtual reality (VR) to focusing on the metaverse. The company aims to bring users to the largest metaverse gallery in the world, where artists and collectors can freely communicate and participate in the virtual space.
- Global artists such as Grammy-winning producer Illmind, digital artist Krista Kim and sculptor Ken Kelleher, also known as “Anchorball,” have held events or sold NFT works on Spatial’s metaverse. “Now anyone, anywhere in the world, can quite literally step inside my sculptures, and have a shared experience together. I’m psyched to be building the Anchorball metaverse inside of Spatial,” Kelleher said in a statement.
- Spatial’s co-founder and chief product officer Lee Jin-ha says Spatial’s usage has grown four times since shifting its focus to the metaverse. “In the past, even well-known artists lacked means connecting them to the audience, other than the number of likes going up,” Lee said. “I’m hearing from artists that they feel happy they can share the experience of art-viewing by inviting people into the virtual gallery through Spatial.”
- Spatial says it is working to construct an open metaverse so that various blockchain services can run on the platform in the near future. Users can now log into the latest version of Spatial via Metamask, an Ethereum wallet.