Psychic VR Lab Raises $8.5 M in New Funding and $18M in Total

Psychic VR Lab raised a total of $8.5 million USD (900 million JPY) in new funding from venture capitals. KDDI Open Innovation Fund No. 3 (operated by Global Brain Co., Ltd.), DG Ventures Co., Ltd., DG Daiwa Ventures Co., Ltd., DK Gate Co., Ltd., and others are among the new funding. With this procurement, the cumulative funds raised by Psychic VR Lab reached approximately $18 million USD (1.9 billion JPY).

Psychic VR Lab is the developer of the XR creative platform STYLY. . STYLY is a cloud based application that enables XR content creators a way to build XR experiences using just a web browser and share content using a variety of content distribution methods. Psychic VR Lab operates with the mission of creating XR spaces that promote art, fashion, and culture.

STYLY has exhibited XR works by artists who have won the NEWVIEW AWARDS at Shibuya’s PARCO XR SHOWCASE, Shibuya’s 5G Entertainment Project, “Virtual Shibuya,” and Ginza 456 by KDDI. STYLY has been showcased in countless XR initiatives throughout Tokyo.

The newest fund procurement will be used to strengthen the organizational structure and promote STYLY commercialization in order to promote the conversion of various spaces to XR media.

Investor Comments:

Mr. Kazuhiko Chuman
KDDI CORPORATION / General Manager of Business Incubation Development Department

The XR creative platform “STYLY” provided by Psychic VR Lab creates a high-quality XR space using only a web browser and enables instant distribution to devices such as smartphones, so that XR will become the norm in the future. We expect that STYLY will become a driving force.

KDDI is jointly engaged in various initiatives at the “Shibuya 5G Entertainment Project” and the KDDI concept shop “GINZA 456 created by KDDI.” We continue to provide XR content to customers and XR media in urban spaces. In order to strengthen our products through joint commercialization of KDDI and the provision of 5G-related technology, we will work together to create a future in which XR will become commonplace and a future in which we will wear space.

 

Mr. Masahiko Maekawa
DG Ventures Co., Ltd. / Board Director

Psychic VR Lab, which provides the XR content production and distribution platform “STYLY”, is a top runner in the industry promoting the conversion of lifestyle interfaces to XR. In the XR industry, it seems that there were many hardware makers related to VR / AR, but it is impressive that Psychic VR Lab has developed an XR platform called STYLY and is aiming for an OS in the XR era, so investing made sense. History has proved that the penetration of newer technologies and services will increase as the number of users increases, rather than the refinement of hardware.

In the future, we will support the maximization of corporate value by accelerating the growth of Psychic VR Lab’s business through collaboration between STYLY and the Digital Garage Group.

 

 

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