Thirdverse, the Tokyo-based VR game studio behind Swords of Gargantua (2019) and upcoming shooter Frostpoint VR: Proving Grounds, announced that it’s secured $8.5 million in funding, something the company says will allow them to grow and make more VR games.
The Series A funding round was led by JAFCO with participation from Presence Capital, Sisu Ventures, and Incubate Fund.
Originally founded in 2016 as Yomuneco, and later this year rebranded to Thirdverse, the studio has been involved on both the development and publisher side of the VR industry. As Yomuneco, the studio has developed SteamVR puzzle game Enigma Sphere: Enhanced Edition (2017) and multiplayer sword-fighting game Swords of Gargantua.
Now as Thirdverse, the studio is also taking on the role as publisher of inXile Entertainment’s team shooter Frostpoint VR: Proving Grounds, which is set to launch in 2020 for SteamVR headsets. The company says the recent name change to Thirdverse was to “better align with its mission to create a ‘Third Place’ in the virtual metaverse.”
“Over the past year, our active user base grew with the increase of device penetration in the global market,” says co-founder of Thirdverse Masaru “Nogi” Ohnogi. “I strongly believe that the market is finally ready and this is the right time to grow our startup. We are really excited to release more immersive VR games in the future.”