After announcing a $30 million Series A investment in September 2022, Hadean now raised an additional $5 million. The new funding will be used to further the expansion of its metaverse infrastructure solution.
Investors included Ericsson Ventures, Metrea Discovery, Sanctor Capital, Tirta Ventures and VU Venture Partners. The initial $30 million funding round was led by Molten Ventures.
“We are thrilled to have the support of such a diverse and experienced group of investors. This additional funding will enable us to continue the significant progress we have made off the back of our Series A and expedite the advancement of our cloud-based solutions for the metaverse,” commented CEO Craig Beddis.
“Our objective is to bridge physical and virtual worlds to improve decision-making, support the creator economy and, ultimately, enhance the quality of life in the real world,” he added.
“Together with 5G, Hadean will unlock unlimited possibilities within the metaverse. Ericsson Ventures is excited to support Hadean in its journey to further drive the immersive experience for both enterprises and consumers,” said Paul McNamara, the vp corporate development at Ericsson Ventures.
So far, Hadean has helped power large-scale applications like the 10,000-strong space battle event Aether Wars in EVE Online and also helped create a digital replica of Estonia.
A recent partnership with Connected Places Catapult also saw Hadean developing eHighways to increase sustainable transport.