3i Inc. raises $24M in oversubscribed Series A funding round

3i Inc specialises in metaverse technology, artificial intelligence (AI), augmented reality (AR) and virtual reality (VR). The immersive technology company is also a member of Born2global Centre.

Ken Kim, CEO of 3i said: "The metaverse is the next-generation platform, where soon, all media flows are expected to move. Our products and solutions help enterprises and content creators leap onto the metaverse much more easily, seamlessly, and quickly than ever before, changing the way the physical world interacts with the digital world."

This most recent round of funding included $20 million from new financial and strategic investors. The remaining $4 million came from existing investors.

"3i is a company which is growing dramatically in B2B digital twin solutions using AI and AR/VR technologies and B2C video content creation platform," said Joo-wan Jeong, Director at SV Investment, the investment company that led the funding round. 

He added: "I made this investment because I believe 3i will be able to grow into the only global player that possesses both technology and content in the integrated metaverse."

Introducing Pivo and Beamo

The company was founded in 2017, has 34 technology patents and has two brands, Pivo and Beamo.

Pivo is a platform business sitting at the intersection of hardware, software, and content. The brand is focused on empowering everyday creators around the world with its Pivo Pod, a portable AI-powered smart pod. 

It also offers its customers a suite of mobile apps that extend the capabilities of any smartphone and simplify rich content creation.

Beamo is an enterprise-grade digital twin solution for mission-critical businesses and sites that creates a dynamic digital twin. 

This digital twin allows enterprises to conduct remote inspections, maintain equipment remotely, collaborate with remote teams and provide the most immersive navigation of mission-critical assets.

To add to its service, 3i plans to use the funds raised to develop new products and expand its metaverse platform business. 

Additionally, 3i plans to invest significantly in scaling out the company with multiple open roles in recruiting, marketing, customer success, design and engineering. This is on top of making key investments in the 3i brand experience in the market over the next year.