XRSPACE, a company creating the next-gen social reality in the metaverse with XR, just raised a sweet $25M! Foxconn Technology Group led the funding round, with Taiwan’s National Development Fund chipping in too.
This cash infusion is only the beginning, as it’s the first part of Foxconn’s massive $100 million commitment announced last month. Taiwan’s National Development Fund also invested $10 million through the Taiwan Creative Content Agency.
Investors believe in XRSPACE’s skills to cook up mind-blowing metaverse experiences that set them apart from the competition. And it’s not just about XRSPACE – there’s a growing demand for brands to plunge into the metaverse, letting people connect beyond the physical world.
So, what’s the plan with all that money? First, XRSPACE will hit the gas on their R&D, focusing on 3D live and social experiences. We’re talking about live facial and motion tracking for user avatars, 5G-powered real-time interaction, 3D live streaming, and AI-backed social engagement. They’ll also partner with companies in Taiwan, China, Japan, and the US to bring even more metaverse fun to consumers.
In case you didn’t know, XRSPACE was founded in 2017 by Peter Chou, the ex-CEO of HTC, a big-time Taiwanese electronics company. They made waves in 2020 with their VR headset, XRSPACE Manova, and continued the momentum with the PartyOn and GOXR apps in 2021.
Get ready, metaverse lovers – XRSPACE is about to take things to a whole new level!