Metaverse UGC Platform BUD Secures $36.8M in B-Round Financing
Metaverse user-generated content (UGC) platform BUD recently completed a B round of financing totaling $36.8 million, led by Sequoia Capital India, followed by ClearVue Partners, NetEase and Northern Light Venture Capital. BUD’s previous shareholders, Source Code Capital, GGV Capital and Qiming Venture Partners, also participated in this round of financing.
Sky9 Capital invested in BUD’s angel financing round in 2019, and has continued to pour in more funds during subsequent rounds.
BUD was co-founded in 2019 by former Snap engineers Risa and Shawn, and the company is headquartered in Singapore. As a metaverse UGC platform, BUD has a few distinct characteristics. Ordinary users with different cultural and educational backgrounds can easily create personalized 3D interactive content by using BUD’s simple and codeless tools. BUD said that the fresh funds are mainly for the continuous iteration of editors and in-depth development of international markets.
“At present, the number of UGC original 3D works on BUD’s platform have exceeded 15 million, and the total transaction volume of 3D materials has exceeded 150 million times,” said Risa, a co-founder and the CEO of BUD. “Since BUD was launched globally in November 2021, it has ranked among the top 10 social applications in 38 countries across North America, South America and Southeast Asia.”
“The media forms in the future will not be limited to words, pictures or videos, but will evolve in a more immersive and interactive direction,” Risa added. “BUD is a 3D UGC platform for creators. It is not a one-man show for professionals, but a big stage for all people to show their unique personalities and ideas.”
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Users don’t need to master any professional programming skills or have any modeling knowledge at all to use the product. They can use BUD’s built-in geometric modules and interactive props to build a set of exquisite 3D interactive scenarios. In addition, users can add text, pictures, music and even videos to the scenario. Lighting and backgrounds can also be customized to create a more immersive virtual world.