3i Inc. Raises US$24M in Oversubscribed Series A Funding Round
SEOUL, South Korea, Sept. 23, 2021 /PRNewswire/ -- 3i Inc., an industry-leading immersive experience company specializing in metaverse technology, artificial intelligence, augmented and virtual reality, and a member of Born2global Centre, completed an investment of nearly $24M (₩28B Won). The round included $20M from new financial and strategic investors and $4M from existing investors.
SV Investment led the round, with other participants including Korean Development Bank, LB Investment, DS Asset, YG Investment, Intops Investment, Enlight Ventures, NBH Capital, and Korea Asset Investment Securities.
Founded in 2017, 3i has 34 technology patents and includes two brands: Pivo and Beamo. Pivo is a platform business sitting at the intersection of hardware, software, and content focused on empowering everyday creators around the world with its Pivo Pod, a portable AI-powered smart pod, and suite of mobile apps that extend the capabilities of any smartphone and simplify rich content creation.
Beamo is an enterprise-grade digital twin solution for mission-critical businesses and sites. Beamo creates a dynamic digital twin that allows enterprises to conduct remote inspections, maintain equipment remotely, collaborate with remote teams and provide the most immersive navigation of mission-critical assets.
"3i is a company which is growing dramatically in B2B digital twin solutions using AI and AR/VR technologies and B2C video content creation platform", said Joo-wan Jeong, Director at SV Investment. He added, "I made this investment because I believe 3i will be able to grow into the only global player that possesses both technology and content in the integrated metaverse".
3i plans to use the funds raised to develop new products and expand its metaverse platform business. Additionally, 3i plans to invest significantly in scaling out the company with multiple open roles in recruiting, marketing, customer success, design and engineering, as well as key investments in the 3i brand experience in the market over the next year.
Ken Kim, CEO of 3i said, "The metaverse is the next-generation platform, where soon, all media flows are expected to move. Our products and solutions help enterprises and content creators leap onto the metaverse much more easily, seamlessly, and quickly than ever before, changing the way the physical world interacts with the digital world".
For more detailed information on 3i Inc., visit www.3i.ai.
About 3i Inc.
3i Inc. (www.3i.ai) provides both hardware and software solutions that transform the way the physical world interacts with the digital world. With 29+ nationalities of employees working in more than 8 countries, 3i is a truly global and distributed company. Its solutions leverage state-of-the-art technologies such as AI/ML and AR/VR to help our customers create the most immersive experiences through rich content and digital twins. We believe 3i solutions will accelerate the creation of the metaverse through digital transformation, digitalization of content, and business workflows.
Pivo (www.getpivo.com) helps empower everyday creators to overcome the challenges of creation and produce high-quality, immersive content by providing smart, affordable enhancement tools, both hardware and software, that extend the capturing capabilities of smartphones.
Beamo (www.beamo.ai) is an enterprise-grade digital twin solution for mission-critical facilities and sites. We make it natural for you to capture your most critical assets, augment them with tribal knowledge and collaborate from anywhere. Beamo's state-of-the-art hardware and software platform simplifies and accelerates this for all enterprises.
About Born2Global Centre
Born2Global Centre (www.born2global.com) is a full-cycle service platform for global expansion. Since its inception in 2013, Born2Global has been setting the standard for successful startup ecosystem as the main Korean government agency under the Ministry of Science and ICT. Born2Global has expanded and transformed startups to be engaged, equipped and connected with the global market.
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