HIKKY Concludes Its Series A Funding Round at 7 Billion Yen

TOKYO, Japan - Feb. 8, 2022 - PRLog -- HIKKY Co., Ltd., VR service provider and organizer of the world's largest VR event, Vket, have raised another 500 million Japanese yen through a third-party allotment to MEDIA DO Co., Ltd. to conclude their Series A funding round. The companies also signed a capital and business partnership on January 18, 2022.

With this procurement, the total amount of HIKKY's Series A round has reached 7 billion yen (~$60.6 million), including 6.5 billion yen raised in an initial Series A closing with NTT DOCOMO, INC. in October 2021. Funds raised will be allocated to Vket Cloud development—HIKKY's browser-based VR engine—and other VR-related services.

The capital will also help expand HIKKY's VR services domestically and abroad, as well as strengthen HIKKY's organizational structure and build a new VR consulting service. Their services include development and operation of a Vket Cloud-powered open metaverse, Vket events and Vket Cloud.

HIKKY is developing and providing services for the open metaverse using their proprietary VR engine, Vket Cloud, and with the help of many creators and partner companies connected by the Vket business. The open metaverse will also provide a variety of innovative services recognizing the unprecedented value of creativity and communication.

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The future of HIKKY and MEDIA DO's business partnership

MEDIA DO has the largest domestic market share of Japan's ebook distribution industry, working with over 2,200 publishers and 150 e-bookstores.

Through this partnership, the two companies strive to create an official publisher's space where users can exchange their thoughts and opinions in the metaverse. In this place, users will enjoy meeting other fans of their favorite manga or other content, publishing and exhibiting their fan art, and expanding the possibility of IP collaborations with exhibitors at Vket events.

The partners will also pursue synergies with MyAnimeList, one of the world's largest anime and manga communities and databases, which is operated by the MEDIA DO Group.

Comment from MEDIA DO Co., Ltd. President and CEO Yasushi Fujita

We are delighted to partner with HIKKY, organizers of a global event in the metaverse who develop a unique and open VR platform. We empathize with the concept of creating a new ecosystem in an open metaverse, and we take on the challenge of metaverse content distribution in a wide variety of sectors, including e-books.

Together, we will deliver new experiences to users and help expand the distribution of all kinds of content.