SINGAPORE, Feb. 22, 2022 /PRNewswire/ — BuzzAR, Southeast Asia’s first woman-led metaverse startup raises US$3.8 million seed funding to build an inclusive metaverse, through its family-friendly games, virtual reality (VR) and GameFi projects. The round is oversubscribed with participation from F50 Elevate in Texas (USA), regional VCs, angels including former Marina Bay Sands executive, Ian Wilson, IP and Brand Protection expert, Peter Hlavnicka, former Google executive, regional family office CFO etc.
Bell Beh, Co-Founder & CEO of BuzzAR said, "This is a US$800 billion business by 2024 according to Bloomberg, by dominating the Southeast Asia market earlier since 2013, we have attracted high profile VCs, PEs in the pipeline to raise our first 8 figures funding."
"BuzzAR is poised to be Southeast Asia’s first Metaverse startup that has fully scaled the 7 enablers of the Metaverse, which is online gaming (2013), VR (2015), Augmented Reality (AR) (2018), Digital Twin (2019), Avatar engine (2021). In 2022, BuzzAR is launching the last 2 enablers, which are Non-Fungible Tokens (NFTs), Social Networking (2022). The company is launching 3 new revenue streams, including an avatar NFTs platform, where users can create their own avatars, drop their own NFTs using the CryptoToon API. CryptoToon is riding on BuzzAR’s HappyToon avatar engine, where 2 million avatars have been generated by users from 163 countries."
BuzzAR’s Co-Founder & CTO, Ken Lim, has published 20 games and amassed 20 million players without VC funding. Now, he joins BuzzAR with all the profitable business assets from Play Spirit Games, including The Cooking Game VR, the No.1 Cooking VR game on Meta (Oculus Rift).
BuzzAR’s ambition is to scale the metaverse business globally, after gaining accelerated growth in Southeast Asia, with A-list venues signing multi-year contracts. The company has delivered stellar revenue growth, with over 10x revenue growth, post-acquisition.
Bell Beh, also a UC Berkeley Scholar alumni, is returning to the Bay Area in March to meet top VC firms at the SandHill road, participate in SXSW, and discuss further fundings. The team will also set up an office in the US in preparation for its global expansion.
For more information, please contact:
Bell Beh at [email protected] (Interview, comments can be provided upon request).