April 20, 2023

XRSPACE Completes $25 Million Funding Round To Enrich Experience On Leading Metaverse Platform

Xrspace

 

XRSPACE Completes $25 Million Funding Round To Enrich Experience On Leading Metaverse Platform

 

Investment will accelerate the development of AI-powered metaverse experiences and fuel innovative partnerships 

 

TAIPEI, April 20, 2023 - XRSPACE, one of the world’s leading metaverse pioneers, today announced the closing of a $25 Million funding round to further expand its leading position in metaverse platforms and experiences. This funding reflects strong confidence from investors in XRSPACE’s ability to innovate new metaverse experiences with a differentiated market approach, as well as a growing demand worldwide for brands to augment experiences into the metaverse and for consumers to connect in ways that go beyond physical boundaries.

 

The round was led by Foxconn Technology Group in partnership with Taiwan’s National Development Fund. The Foxconn Technology Group invested the first of three tranches of funding from its $100 Million commitment announced in March 2022, while Taiwan’s National Development Fund invested $10 Million through the Taiwan Creative Content Agency.

 

Founded by Peter Chou, the technology pioneer who founded and led HTC, XRSPACE is a leader in metaverse technologies and platform capabilities. This investment will accelerate the company’s R&D efforts in shaping the next generation of 3D live and social experiences, including live facial and motion tracking of user-driven avatars, 5G-powered real-time interaction, 3D live streaming, and AI-powered social engagement. Funds will also be used to launch and evolve a set of innovative partnerships in Taiwan, China, Japan, and the US, spurred by the growing demand of brands and creators to build and facilitate their next generation of consumer engagement in the metaverse.

 

With the completion of this funding round, XRSPACE completes a year of significant accomplishments in cross-platform development and partnerships.

 

Through the company’s business-focused GOXR platform, XRSPACE:

  • Launched a metaverse experience for the Beigang Chaotian Temple in Taiwan. In partnership with Meta Taiwan and Taiwan’s Ministry of Culture, millions of visitors from across the world can engage and experience this world-famous and culturally significant temple.
  • Introduced and enhanced culturally-relevant content including Taiwan’s National Palace Museum and JuMing Museum.
  • Has brought over 1,200 educational institutes and over 200,000 visitors and students into the metaverse in partnerships with the Department of Education in Taiwan.

 

In partnership with Foxconn, Taipei Fubon Bank, Chunghwa Telecom and Asia Pacific Telecom, GOXR also developed a set of new business presentation and sharing capabilities that can be used for corporate events.

 

Through PartyOn, the company’s entertainment-focused metaverse platform:

  • Over 700,000 users have joined over 50,000 user-generated parties, enjoying the innovative 3D and live social experiences in the XRPACE-powered metaverse.
  • In January 2023, XRSPACE partnered with Japan’s top social music platform nana music to extend the country's leading interactive social music service into the metaverse. This will ultimately give nana music's 10M subscribers the opportunity to sing, dance, and enjoy themselves together in the metaverse.
  • In November 2022, the company partnered with the Taipei Pop Music Center to host the world's first live and interactive virtual concert. Unlike the recorded performance that is most common in the market today, singers performed and interacted with fans virtually in real-time throughout the event, using PartyOn’s live technology.

 

XRSPACE has focused on developing and integrating AI, 5G, XR and cloud technologies, coupled with partnerships to provide everyday relevant experience so its users can feel the true sense of togetherness. This focus has proven prescient as brands and creators have evolved from trials to investing resources to own and operate their metaverse communities on the XRSPACE platform. These latest fundraising, platform, and partnership accomplishments demonstrate XRSPACE’s Go-To-Market ability to elevate metaverse relevance to global mainstream audiences.

 

 

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