Vark is one of the startups trying to help artists perform concerts in the metaverse, and now it has a new funding round to continue building its technology.

The Japanese firm has raised ¥1bn (around $7.2m) in a Series C funding round, with investors including NetEase Games.

The company has more than doubled its number of virtual events over the last year, and it recently launched a product called Vark Shorts to help people create short videos using their 3D avatars. The company’s CEO is already looking forward to more fundraising in the future.

“In Japan, it is often said that raising one billion yen is seed raising, and we believe that is exactly the case in the metaverse field,” said Takuya Kato in a statement.

“We need at least ten times this amount of funding and more people to help us spread our culture around the world. We need partners outside of Japan as we continue our international expansion next year and the year after that.”

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