This is HIKKY's first funding round. Here are the top-line bullets you need to know.
HIKKY, a developer of virtual reality-based exhibitor and marketplace events, has raised $57M in a Series A round. This round drew participation from NTT DoCoMo and other undisclosed investors.
How’s the company performing?
- Japan-based HIKKY develops a VR engine, known as Vket Cloud, that helps generate metaverse content.
- The company’s VR event — Vket — draws in thousands of artists, international corporate sponsors, and millions of general users.
Why does the market matter?
- The global virtual reality market is projected to reach a value of $84.1B by 2028, growing at a CAGR of 44.8%, according to Fortune Business Insights.
- VR is gaining popularity across various industries, such as gaming and entertainment, healthcare, defense, automotive, and education, as it has the potential to elevate operational performance.
- As a result of the Covid-19 pandemic, enterprises have increasingly adopted VR technologies to host meetings and events and conduct other business operations.
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