VR live streaming platform VARK receives 1 billion yen in funding led by NetEase Games

Published By: EAIOT Time: May 15, 2023 07:23:52 Categories: Metaverse 501 Views Total: 0Comments

VARK is a Japanese VR live streaming platform that focuses on providing performances and interactions with virtual idols and virtual singers. According to news on May 12, VARK announced the completion of a Series C funding round of 1 billion yen (about RMB 60 million) led by NetEase Games, with other investors including Tokyo Electric Power, Sumitomo Mitsui Banking Corporation, and Nippon Telekom Telephone Corporation, making this the first time VARK has received investment from a Chinese company.

Founded in 2017, VARK is a VR technology-focused entertainment company that offers a suite of VR production tools that allow anyone to create their own virtual characters and content and stream or record them on the platform. Currently, VARK has more than 10 million registered users and over 2,000 virtual artists.

VARK said the funding round will be used to expand its team, add content, optimize its technology, and expand its market, and that it will collaborate deeply with NetEase Games in the areas of virtual idols and virtual singers to explore the opportunities and potential of the Chinese market.