South Korean company Urbanbase completes US$11.1 million in Series B+ financing and plans to enter Metaverse

 

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On August 30, it was reported that Urbanbase, a Korean 3D spatial data tool company, completed a US$11.1 million B+ round of financing. Hanwha Hotels & Resorts, a subsidiary of Hanwha Group, led the investment. The company plans to use new funds to enter the field of Metaverse, including investing in the research and development of advanced virtual reality, augmented reality and 3D tools, while strengthening its B2B SaaS services. Urbanbase was founded in 2013 by CEO and former architect Jinu Ha, with a total financing amount of US$20 million. Previous supporters include South Korea’s New World Information and Communication Corporation, Woomi Construction, SL Investment, KDB Capital, Shinhan Capital, Enlight Ventures, CKD Venture Capital, and Breeze Investment. Urbanbase also plans to upgrade its home interior software platform Urbanbase Studio, which can convert 2D indoor spatial images into 3D images through Urbanbase’s patented algorithms, view indoor products through augmented reality, and have the ability to analyze spatial images based on AI technology.

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