December 1, 2022

MotleyBloggers

News from the world of bitcoin

Web3 Metaverse Company Hadean Raises $30 Million in Series A Funding Round Backed by Epic Games and Tencent

Hadean, a company using computing to scale virtual and metaverse worlds, has successfully closed its Series A funding round, raising $30 million. Among the companies that invested were gaming giant Epic Games and Chinese entertainment behemoth Tencent. Hadean aims to keep developing its metaverse-scaling infrastructure and software.

Hadean Closes $30M Series A Funding Round

Hadean, a U.K.-based computing company, has raised $30 million to expand its current reach and grow its metaverse scaling capabilities.

The company closed its Series A funding round gathering support from big names in the gaming and entertainment business including Epic Games, developers of the Unreal series of graphics engines, and Tencent, a Chinese gaming-centered company. The company, which was founded in 2015, will use the funds to continue innovating its software suite to provide scaling services for metaverse worlds.

About the company’s vision, Hadean CEO Craig Beddis stated:

Today’s virtual worlds are a limited experience — small scale, siloed, and insecure. Hence why these are the technical challenges we’re tackling today. But we believe the true success and mass adoption of the metaverse will rely on the ease by which creators will be able to build their own experiences at scale.

Previous Customers and Metaverse Gaming

Hadean is already providing its world-designing and scaling services to several customers. The company partnered with Mojang, the developer of the popular game Minecraft, to provide its Aether Engine to power distributed computing solutions, allowing the game to achieve better scaling results.

More recently, Hadean partnered with Epic Games, which awarded a grant to the company in order to adopt some of the functionalities of its product into their Unreal Engine platform. In July, the company was awarded a contract by the British army in order to build and scale a cloud-distributed simulator for the training of military forces.

READ  Biggest Movers: LUNA Climbs 1,500% Following Do Kwon Tweets, While AVAX and NEAR Fall on Saturday

Hadean is expecting to take a position in the top providers of metaverse gaming scaling tools. Metaverse-related gaming is expected to grow immensely during this decade. A note released by JPMorgan earlier this month estimates the market could reach $100 billion just in China.

Tags in this story
British army, Epic Games, funding round, hadean, Metaverse, Minecraft, Series A, tencent, uk, Unreal Engine, Web3

What do you think about Hadean’s Series A funding round? Tell us in the comments section below.

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. MotleyBloggers.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Read disclaimer