Quick take:
- The round was co-led by Temasek and Alibaba.
- It is an extension of Yahaha’s previous Series A raise of $50 million.
- Funds will be used to expand Yahaha’s team and ecosystem.
Finnish user-generated content metaverse studio, Yahaha, today announced it has secured $40 million in a Series A+ funding round led by Singapore state holdings company Temasek and Chinese e-commer giant Alibaba. Additional investment came from China-listed metaverse and entertainment studio, 37 Interactive Entertainment.
This investment follows a previous Series A raise of $50 million, taking total funding secured by Yahaha to almost $100 million in two years. The fresh funding will be used to further grow the Yahaha product, community, headcount and ecosystem.
Dual-headquartered in Finland and Shanghai, Yahaha was founded in 2020 by a group of Unity veterans. The platform launched early alpha in April this year with a mission to enable content creators of all skill levels to make their own games, worlds and social spaces.
Since then, over 100,000 creators have joined its platform on PC and macOS to create games with Yahaha’s 3D content creation tools. Additionally, hundreds of thousands of players have been enjoying Yahaha’s UGC games on the mobile app.
Yahaha’s metaverse creation tools allow users to easily create games using drag and drop, as well as extensive, easy-to-use, tutorials.
The studio has over 150 employees globally, with offices in Helsinki, Seoul and Shanghai. Following the new round of funding, it plans to extend its reach further, with new hires and offices in local markets such as the US and APAC. It also plans to to collaborate with brands to bring new IPs into its metaverse to extend its ecosystem.
“This round of funding signifies the next step we are taking with Yahaha — opening up more creator experiences monetization modules. We are also continuing to pioneer by investing in key areas of the community and by building relationships with brands that share our values, aligning ourselves with experts in the fields of game development, 3D asset creation and more,” said Yahaha CEO Chris Zhu.
****
Sign up to the world’s biggest crypto exchange Binance to buy and sell cryptocurrencies.
Stay up to date:
