Hadean raises $5M for metaverse infrastructure solutions

Hadean announced today that it has raised an addition $5 million in funding for the build-out of its metaverse infrastructure solution. The new funding adds to the company’s previous Series A round, where it raised £30 million last September. According to the company, the funding will help support bigger, more immersive virtual worlds.

Ericsson Ventures, Metrea Discovery, VU Venture Partners, Sanctor Capital and Tirta Ventures all contributed to the additional funding. Paul McNamara, Ericsson Ventures’ VP of corporate development, said of the funding, “The Metaverse is one of the most important 5G use cases. Hadean provides a scalable, proven infrastructure to power the future of the metaverse. 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.”

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Craig Beddis, Hadean’s CEO, said in a statement, “We are thrilled to have the support of such a diverse and experienced group of investors. This additional funding will enable us to continue the significant progress we have made off the back of our Series A and expedite the advancement of our cloud-based solutions for the metaverse. 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.”

Hadean intends to solve some of the metaverse’s biggest sticking points, such as scale and latency. The company has supported large-scale, high-numbers events before, such as the EVE Online Aether Wars event.

Originally appeared on: TheSpuzz