Hyperreal Secures $7 mln to Develop Hyper-realistic Avatars for the Metaverse

By Juan Fajardo Juan Fajardo has been verified by Muck Rack's editorial team
Published on November 4, 2021

Hyperreal Digital, a media production startup based in New York, has raised $7 million in seed funding to allow users to better express themselves in the metaverse.

With participation from South Korean gaming giant Pearl Abyss, entertainment industry disruptor ZASH Global, Genius Sports Chairman David Levy, 32 Ventures CEO Robert Wolf, and Mayflower Entertainment founder Ryan Schinman, the funding round will allow the startup to expand its virtual production teams and technological platform. Kyle Kyungyub Kim, Head of Investment for Pearl Abyss, said about the round:

“Hyperreal has proven its industry-leading expertise with its HyperModels, and we believe this strategic partnership will help provide a more immersive experience for our players in the Metaverse.”

Founded in 2019, Hyperreal has already disrupted the entertainment industry by co-producing Paul McCartney and Beck’s video “Find My Way”. The startup also created a virtual avatar of Madison Beer for a virtual concert by Sony Music Entertainment and Verizon that made headlines around the world. Remington Scott, Hyperreal CEO and award-winning VFX director, said about how the funding will impact the startup’s expansion:

“We are thrilled to have secured strategic investments from industry leaders in key vertical markets where we are seeing major demand from gaming to music, sports and brands,” said Hyperreal CEO and award-winning VFX director, Remington Scott. “Our investors recognize the explosion of opportunities in the space, and the funds will allow us to ramp up production globally.”

Virtual shows have gained popularity over the past years as thousands of concerts were canceled around the world due to the COVID19 pandemic. This, combined with the rise of virtual artists/bands like Pentakill, KDA, Hatsune Miku, and more, Hyperreal’s technology is set to capitalize on the increasing demand for high-quality digital avatars. The startup is also looking to establish itself as a major contributor to the development of the metaverse, which continues attracting the attention of tech giants like Nvidia and Meta.

By Juan Fajardo Juan Fajardo has been verified by Muck Rack's editorial team

Juan Fajardo is a News Desk Editor at Grit Daily. He is a software developer, tech and blockchain enthusiast, and writer, areas in which he has contributed to several projects. A jack of all trades, he was born in Bogota, Colombia but currently lives in Argentina after having traveled extensively. Always with a new interest in mind and a passion for entrepreneurship, Juan is a news desk editor at Grit Daily where it covers everything related to the startup world.

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