VR developer Thirdverse has completed a Series A funding round worth $8.5 million, showing that investors are still happy to get into VR gaming.
Thirdverse worked on the multiplayer sword-fighting VR game Swords of Gargantua, which came out in 2019. JAFCO lead the investment round, with Presence Capital, Sisu Ventures, and Incubate Fund also investing.
The studio’s next game, Frostpoint VR: Proving Grounds, is coming out for Oculus, Vive, and Valve Index VR devices later this year. It is publishing the multiplayer shooter with InXile developing. This will be InXile’s last non-Microsoft project following its acquisition of the studio, which is known for RPGs.
Thirdverse cofounder Masaru Ohnogi told GamesBeat that the funding will go toward expanding the company with new hires.