Chinese metaverse engine company VSWORK has declared the completion of the pre-A round of financing, receiving tens of millions of RMB investment. Jinyu Bogor Investment Management is the lead investor, while Yiwei Capital acts as the long-term exclusive financial consultant. The funds raised in the financing will mainly be used in the company’s marketing and product updates.
Why it matters
As a result of the COVID-19 pandemic, there is a rising demand for developing online exhibitions and conferences as a supplement or replacement for offline events. VSWORK has created several solutions powered by AR, VR, and MR technologies to support online exhibitions and events such as the Expo 2020 Dubai and the Sina VR Meta-Universe Summits. VSWORK is also a virtual space provider, offering virtual space leasing services to its clients.
According to PatSnap IP Intelligence, VSWORK has been applying for a patent regarding hand gesture data collection.
Based in Nanjing, China, VSWORK focuses on the development and innovation of the extended reality remote multi-person collaborative platforms. Currently, VSWORK’s online exhibition can allow users to meet, communicate, and exchange business cards with different people on the virtual exhibition sites based on their geographic location, similar to visiting a real-life exhibition.