UK Startup Hadean Raises a $30 Million Series A to Power the Metaverse
London-based deep tech start-up, Hadean, has secured $30 million in funding to build out its record-breaking metaverse infrastructure technology – already supporting virtual worlds in immersive entertainment and enterprise digital twins.
Molten Ventures led Series A and was joined by 2050 Capital, Alumni Ventures, Aster Capital, Entrepreneur First and InQTel. The Series A, along with an investment from Epic Games, will help Hadean build out the company’s scalable, interoperable and secure metaverse capabilities. As an open platform for distributed cloud computing, Hadean can be considered the “infrastructure” that powers the metaverse so it can become a reality.
“Hadean’s computing power will provide the infrastructure that’s needed as we work to create a scalable metaverse,” said Marc Petit, VP, of Epic’s Unreal Engine Ecosystem. “The company’s technology complements Epic’s Unreal Engine by enabling massive amounts of concurrent users and unlocking new tools for creators and developers. We are pleased to contribute to Hadean’s growth and look forward to continuing to work together to lay the foundation for the metaverse.”
Craig Beddis, Hadean Co-Founder and CEO said: “Hadean’s mission is to bridge physical and virtual worlds – to help us make better decisions and ultimately improve the quality of our lives in the physical world. Today’s virtual worlds are a limited experience – small scale, siloed, and insecure. Hence why, these are the technical challenges we’re tackling today. But we believe the true success and mass adoption of the metaverse will rely on the ease by which creators will be able to build their own experiences at scale, leveraging open and robust metaverse-as-a-service technologies. We’re delighted to work with industry leaders like Epic Games, who share our ethos and ambition for this reality.”
Hadean has developed vital metaverse components and signed multi-year agreements in entertainment (Minecraft, Pixelynx, Sony and Gamescoin), as well as with education and enterprise digital twin providers. Hadean’s 14,000-player Unreal Engine demo with EVE Online maker CCP Games at the 2019 Game Developers Conference is just one example of how the company’s infrastructure technology enables large numbers of concurrent participants in a virtual environment. This fresh wave of funding will accelerate Hadean’s ability to give creators the tools in new and emerging metaverse markets to change every aspect of how we work, build, buy and consume.
David Cummings, Venture Partner at Molten said: “Molten has been a part of Hadean’s journey since early 2019. Since then, we have seen the Hadean team deliver ambitious technical milestones, build an impressive customer base across a number of sectors and continue to attract dynamic talent. It is a pleasure to continue providing our support to Hadean as it grows yet further.”
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