Tokyo-based virtual reality startup HIKKY raises $57M to develop the open metaverse and expand its global footprint

Metaverse is the new buzzword in technology. Since last month when Facebook changed its name to Meta, tech investors are flooding into virtual and augmented reality space with millions of dollars investments hoping to find the next winner to bet on before it gets crowded.

One of the new startups is HIKKY, a Tokyo, Japan-based company that develops its own proprietary VR engine called Vket Cloud, which is used to create metaverse content that users can access by clicking a URL and doesn’t require a dedicated computer or mobile application.

Today, HIKKY announced it has raised $57 million (6.5 billion yen) in a Series A funding round to help expand its virtual reality services both domestically and abroad, as well as strengthen its organizational foundation. HIKKY’s services include the Vket series of VR events, the browser-based VR engine called Vket Cloud that runs on smartphones and computers, and open metaverse development with Vket Cloud.

Founded in 2018, HIKKY is a developer of a proprietary VR engine called Vket Cloud, which is used to create metaverse content that users can access by clicking a URL and doesn’t require a dedicated computer or mobile application. It also supports multiplayer mode, where users can enjoy communicating in the same space using voice or text chat.

“Here at HIKKY, we will accelerate our metaverse business with the help of communication infrastructure and global networks of NTT DOCOMO, INC., and NTT Group,” said Yasushi Funakoshi, HIKKY’s CEO. “We will continue to provide NTT DOCOMO with XR services, technologies, and content as per our strengths. We are extremely grateful to all the creators who have supported us, and to the visitors and companies who have taken part in Vket events.”

The startup also helps organize and run the VR largest event series, called Vket. Thousands of artists, many international corporate sponsors, and over a million users attend these events. Vket has become a major player in the VR event space and has received several awards: the VR Awards’ Marketing Grand Prize in 2020, Japan’s XR Creative Awards’ Overall Grand Prize in 2020, and two Guinness World Records in 2021.