Metaverse Platform ‘DotDotDot’ raised KRW 4.4B in pre-series A funding
DotDotDot, the developer of the next-generation social metaverse platform OLOBO, announced today that it has raised KRW 4.4 billion in pre-Series A funding.
The investment was led by KB Investment, Korea Investment Partners, Laguna Investment, and BTC Investment. The cumulative investment amount is KRW 9.2 billion.
The company plans to use the investment for the development and operation of the Olobo platform, which is being developed with the goal of launching the service in the second half of this year, and will also focus on hiring development and operation personnel.
Olobo, an avatar voice-based communication platform, plans to open its services in North America, including the U.S., followed by Korea, Japan, and India. Olobo is a next-generation content service that combines social media and the metaverse, and is characterized by the ability for users to easily create high-quality animated content and communicate with each other through voiced avatars. Olobo users can express their natural emotions and gestures without having to act or make facial expressions, making it convenient for them to use the service. In addition, the service will utilize AI to extract emotions from voice and recommend options.
“The company is developing a platform that utilizes virtual characters and backgrounds to share not only the content of conversations but also the emotions of users, and it is an excellent team with excellent development capabilities and an excellent global sense, led by the best talents in the game industry.” “We decided to invest because we are confident that it will launch a service that can grow as a means of close communication in a metaverse environment separated from reality,” said Jung Hoon Jeong, Managing Director of BTC Investment.
“We will introduce a next-generation SNS platform that allows users to express natural emotions and behaviors, including voice, through avatars” said Bae Yong-taek.
Founded in 2018 by a group of executives and developers from NCsoft, XL Games, and Krafton, DotDotDot is developing a next-generation social media platform including content creation apps. The company is based in Seattle and South Korea and is hiring a number of developers and operational staff in the first half of this year.
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