Dubit Raises USD $8M in Funding

Dubit, a Leeds, UK-based games studio and developer of virtual worlds, raised USD $8M in funding.

The round was led by Metaventures and French investor Jean-Charles Capelli, valuing Dubit at USD $55m.

Founded in 1999 by Matthew Warneford, Dubit is a games studio and developer of virtual worlds for twenty years. The company works with companies such as Disney, Facebook and Lego, and is already taking brands into Roblox.

The company intends to use the funds to create massively interactive live events in Roblox and the wider metaverse. This includes launching Metaverse Gaming League a live-streamed esports league in the metaverse.  Currently in beta, Metaverse Gaming League hosts regular live-streamed events in Roblox, the gaming and social platform with over 200 million monthly users. It offers everyone the chance to participate and win prizes. Following its launch on Roblox, it will expand to other leading metaverse gaming platforms, such as Minecraft and Core.

Metaventures and Dubit are also creating consumer lifestyle experiences such as concerts and fashion shows for the metaverse.

Dubit has grown to 100 staff across three continents eith offices in the UK, US and Australia.