Quick take:
- Didimo has completed a $7.15 million Series A round led by Armilar Venture Partners.
- The company is ramping up the develo[pment of its web3 gaming infrastructure to bring digital human avatars to the metaverse.
- The fundraising also attracted participation from Bright Pixel Capital, Portugal Ventures, and Techstars.
Didimo has announced the successful completion of a Series A funding round led by Armilar Venture Partners. The fundraising also attracted participation from Bright Pixel Capital, Portugal Ventures, and Techstars.
The company is raising funds to accelerate the development of its gaming ecosystem which will help gaming companies to bring real-life digital experiences to the metaverse. Didimo is a digital human avatar technology company backed by some of the leading video game and metaverse companies.
Japanese electronics giant Sony and metaverse startup CEEK VR are some of its notable partners.
The Didimo platform facilitates the mass creation of digital avatars at speed. The company’s latest fundraising will help simplify the process of creating 3D avatars into a single step. Didimo’s cloud-based platform reduces the time taken to create a 3D avatar from days to just 60 seconds.
With this platform, users can create digital versions of themselves to line up next to some of the world’s biggest sporting legends including Cristiano Ronaldo, Stephen Curry and Tom Brady.
The platform also allows brands to turn 2D facial (and soon body) images into a 3D digital version of themselves at speed, scale, and real-life immersion.
Commenting on the fundraising, Didimo founder, and CEO Verónica Orvalho said: “We can empower people to do naturally in digital spaces what they do in the real world, like try on clothes, pick up and explore products, compete in a game or entertain their friends. Our technology means people engage with computing in more human and authentic ways.”
The company is committed to enhancing the metaverse experience by adding real emotion and personalisation to the experiences.
Pedro Ribeiro Santos, a partner at Armilar Venture Partners lauded Didimo’s background from its academic roots shaped over several years of R&D to become of the one leading digital engagement products in the industry.
“We believe that the company’s product offers an immense opportunity, as businesses look for scalable ways through which they can provide deeper value – and earn greater revenue – from their consumer base, by stimulating user attraction, engagement, and retention,” Santos added, explaining why his company invested in Didimo.
Though based in the US, Didimo has expanded its global presence with offices in Porto, Portugal and the UK. The company plans to use some of the funds to facilitate its international expansion.
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