Metaverse app developer Bud has completed a $36.8 million Series B funding round led by Sequoia Capital India.
Other participants in the round include ClearVue Partners, NetEase, Northern Light Venture Capital, as well as current investors GGV Capital, Qiming Venture Partners and Source Code Capital.
In total, the company has raised $60 million.
The Singapore-based startup was founded in 2019 by two former Snap engineers Risa Feng and Sean Lin. They position the app as a metaverse social platform that allows players to create and share virtual 3D items.
According to BUD, since its launch, the number of transactions with gaming goods has surpassed 150 million.
The funds will be used to develop tools for creating game items, expand the user base, and deploy Web3 products for the Metaverse ecosystem.