VRChat announced on September 5 that it successfully closed a USD 10mn Series C venture capital in order to expand its online social platform that is filled with community-generated VR content.
Besides the continued support the platform received from GFR Fund, Brightstone VC and HTC, the recent round also saw Makers Fund enter as a fresh new investor.
Released in 2017, VRChat is basically a social platform which lets non-VR and VR users interact in a world of virtual reality while exploring community-generated activities and spaces. The laissez faire nature of the platform towards community-generated content as well as non-prescriptive arcade is what makes VRChat unique among rivals such as Bigscreen and Rec Room.
According to Graham Gaylor, CEO, VRChat, the major aim is to help people connect and interact as though they are in same room.
The platform, which is still in start-up stage, is entirely free and can be availed on Steam and Oculus Rift. It was recently rolled out on Oculus Quest.
Notably, the latest Series C venture capital round comes in just a couple of months after an additional funding worth USD 24mn was announced by Rec Room from formerly unrevealed Series A as well as Series B fundings.