Metaverse UGC platform YAHAHA has officially completed a $40 million A+ round of financing. This round of financing was jointly led by Temasek and Alibaba, followed by Sanqi Interactive Entertainment, and Taihe Capital served as the exclusive financial advisor. The financing will be used for product iteration, community ecological construction and personnel expansion.
The company released the Alpha test version of its product in April 2022, and users in overseas regions have been able to download it on PC/Mac/mobile terminals, and users can interact with the same server across terminals. As of October, YAHAHA’s products have attracted more than 100,000 users to register and experience. While the product is further introduced to the market, the YAHAHA team has also expanded to nearly 200 people, with offices in Shanghai, Finland, Seoul and other places. The company will further set up offices in other regions and recruit local teams.
Founded in 2020, YAHAHA has dual headquarters in Shanghai and Helsinki, Finland. The core founding team consists of senior Unity employees. With a mission to democratize 3D content creation and consumption, YAHAHA’s 3D content creation tools will help any creative creator create their own games, worlds and social spaces. YAHAHA’s authoring tools can help creators create a game in a no-code way by simply dragging and dropping. For user groups with different creative abilities, this tool also has strong expansibility and upper limit. Since its establishment two years ago, the company has accumulated nearly 100 million US dollars in financing.
YAHAHA will use this round of financing to fully iterate on the product, and continue to provide creators with more complete creation tools and new functions combined with AI and cloud processing capabilities. In addition, functional modules to help creators monetize their content will be introduced soon, and the details will be released in the near future. YAHAHA also plans to continue to expand the scale of the professional no-code developer community through accelerators, global community events, Game Jams, and creator workshops.
At present, YAHAHA has built a global team of nearly 200 people, with offices in Shanghai, Finland and Seoul, and will set up offices and recruit localized teams in North America and Asia Pacific after this round of financing. In order to accelerate the creation of its content ecosystem, YAHAHA has planned to cooperate with a number of well-known brands, and combine brand IP to create relevant content on the platform to reach a more diverse user group. At the same time, YAHAHA will also announce new strategic partnerships with industry partners and studios in the near future. The core players of 3D content assets that have reached cooperation so far include Unity, Synty Studios, CGTrader and Dabeeo.
Chris, founder & CEO of YAHAHA, said: “YAHAHA’s products have achieved gratifying growth during the Alpha testing phase, with more than 100,000 creators registering and creating content on the YAHAHA platform, laying a solid foundation for the platform’s subsequent development. The completion of this round of financing also marks that YAHAHA will explore more possibilities in developer experience and commercialization. At the same time, we will continue to work with leading talents in game development and 3D content assets through brand cooperation. Continue to build our creator community.”
“YAHAHA’s vision is not limited to leading the next generation of content entertainment, the greater significance is that we can help the next generation of creators create their own high-quality content through the IVWP (Integrated Virtual World Platform) platform and tools. In the future virtual world There are a lot of opportunities in the world waiting for us, and we will continue to invest in building a better team community ecosystem and stay ahead of the next generation of entertainment.”
Victor Tang, Investment Director of Alibaba Group, said: “The YAHAHA 3D code-free real-time content creation engine can greatly reduce the difficulty of game creation and improve efficiency, subvert the original production relationship, release a large amount of PGC/UGC content creation productivity, and greatly improve the social nature of games. , fun, creativity and category richness, we judge that it is a PGC/UGC 3D content track with explosive growth, and with an international first-class management team led by Chris, YAHAHA is expected to become a world-class platform company.”
Liu Yu, head of 37 Interactive Entertainment Investment, said: “The advent of the Web3.0 era will trigger a blowout demand for real-time interactive 3D content, and the content creation method is also changing from PGC to UGC and AIGC. It has low threshold and high quality. The content creation tool of the material template will become the core cornerstone of the next-generation mobile Internet UGC content. We are optimistic that the creation tool developed by YAHAHA can allow ordinary users to create multi-person high-definition interactive content in a code-free way, so that higher quality content can be created. Experience to reach the global adult-based social group. I believe that the international management team headed by Chris can lead the company to become the world’s leading 3D multi-person real-time interactive platform.”
Shi Songyuan, vice president of Taihe Capital, said: “Marshall McLuhan’s definition of “extensibility, elimination, reversal, and retrospectiveness” guides the future of media evolution: a 3D, large-scale, multi-person real-time interaction, low threshold , a new form of encapsulating multiple media. In this trend, we are optimistic about the platform ecology that combines creation and experience, that is, the IVWP (Integrated Virtual World Platform) summarized by Metaverse pioneer Matthew Ball, has a first-mover advantage+ The long-term large market scale makes it the most forward-looking track. At the same time, the deconstruction and reshaping of the world requires a team with comprehensive capabilities, strong synergy and internationalization. YAHAHA is such a leader with the strongest endowment , I believe they can bring revolutionary products to users around the world.”