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VRChat raises $10 million to expand its virtual reality platform

VRChat raises $10 million to expand its virtual reality platform

September 5, 2019 | By Alissa McAloon

September 5, 2019 | By Alissa McAloon
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More: VR

VRChat, the studio behind the online social platform of the same name, has raised a total of $10 million at the close of a Series C funding round.

The round sees Makers Fund join the company’s list of investors, and also saw contributions from previous investors like HTC, Brightstone VC, and GFR Fund. VRChat says that the investment makes it possible to expand the team working on VRChat, alongside aiding the growth of the platform and its community.

Additionally, having Makers Fund and HTC on board as partners opens the door to what the company describes as “unique opportunities” down the line.

VRChat allows players to don a virtual avatar and socialize in a variety of virtual spaces, though the name is slightly a misnomer since a VR headset isn’t necessarily required to play. The platform also solicits content from creators, allowing its users to create and share their own worlds and avatars using whatever 3D authoring software they have access to and uploading it via the VRChat SDK.

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