Bud raises $36.8M for Series B funding


Bud, a Singapore-based provider of a metaverse UGC platform, raised $36.8M in Series B funding.

Sequoia Capital India led the round with ClearVue Partners participating, NetEase and Northern Light Venture Capital. ClearVue Partners, NetEase, Northern Light Venture Capital participated, as well as Qiming Venture Partners, Source Code Capital, Qiming Venture Partners, GGV Capital, Qiming Venture Partners, and Source Code Capital.

The company plans to use the funds for further development of its creation tools, to grow its global user base, and to roll out web3 products to its metaverse ecosystem.

Bud was founded in 2019 by Shawn Lin and Risa Feng, former Snap engineers. It allows users to create and share interactive 3D experiences using creation tools. By using interactive props, geometric modules, and other tools, creators can create 3D experiences. You can add texts, photos, music, and videos to enhance experiences. Lighting and sky-box can also be adjusted to create an immersive atmosphere.  The platform has already created over 15,000,000 3D experiences and assets. Additionally, user-generated 3D assets were traded more than 150,000,000 times.

The company plans to launch its NFT marketplace.

Get latest news from African Startup ecosystem

Latest stories

You might also like...