Bud Raises $36.8M in Series B Funding


Bud, a Singapore-based provider of a metaverse UGC platform, raised $36.8M in Series B funding.

The round was led by Sequoia Capital India with participation from ClearVue Partners, NetEase, Northern Light Venture Capital, GGV Capital, Qiming Venture Partners and Source Code Capital.

The company intends to use the funds to further develop its creation tools, grow its global user base and roll out web3 products for its metaverse ecosystem.

Founded in 2019 by former Snap engineers, Risa Feng and Shawn Lin, Bud is a metaverse UGC platform encouraging users to generate and share 3D interactive experiences with creation tools. It allows creators to build 3D experiences from scratch by using geometric modules and interactive props. Apart from adding texts, pictures, music and videos to enrich experiences, lighting and sky-box can be adjusted as well to create an immersive environment.  To date, over 15 million 3D experiences and assets have been created on the platform and user-generated 3D assets have been traded more than 150 million times.

The company has revealed plans to launch its own NFT marketplace.