VARK Corporation raises approximately 1 billion yen in funding, underwriters include SBI Investment and NetEase Games

VARK Corporation, a developer of a virtual live platform and provider of video creation support tools for 3D avatars, has raised approximately 1 billion yen in Series C round first close funding through a third-party allocation of new shares and other means. The underwriters are Jafco Group, Mitsubishi UFJ Capital, ANRI, SBI Investment, and NetEase Games, in addition to existing investors Jafco Group, Mitsubishi UFJ Capital, and ANRI.

VARK Corporation Raises Approximately 1 Billion Yen in Funding

VARK Corporation is developing businesses such as " VARK," an entertainment-specific metaverse, and " VARK SHORTS," a video creation support tool for 3D avatars. VARK has hosted many virtual events such as "Cinderella switch" featuring artists from hololive productions and "Teletech Virtual Music Fest", TV Tokyo's first virtual music festival. The company has also held a number of virtual events, including "Cinderella switch," featuring artists from TV Tokyo's first virtual music festival "Teletext Virtual Music Fest.

PR TIMES

With this fundraising, VARK Corporation has announced that it will strengthen its existing products and take on the challenge of developing new businesses such as "VARK SHORTS". VARK Inc. has been attracting attention for its future development toward achieving its vision of "creating the No. 1 service in virtual x xxx". Please visit VARK Corporation's official website for more information on the company's business activities and case studies.

Representative Comment

Takuya Kato, CEO of VARK Inc.

In Japan, it is often said that "raising 1 billion yen is seed funding," and I believe this is true in the field of Metaverse. We need at least 10 times this amount of funding and more people's help if we are to spread this culture around the world. We need partners outside of the country as we continue to expand our reach outside of the country next year and the year after that.

Yutaka Sugimoto, COO, VARK Co.

First of all, I would like to thank all the new shareholders who participated in this round and all the existing shareholders who continue to support us. It has been about two years since I joined VARK, and I feel that the speed at which products are released and updated has increased dramatically. In order to meet the support and expectations of our shareholders, business partners, and service users, we will continue to strengthen our product development system and strive to provide value at an even faster pace than before.

Partners' Comments

Mr. Motoaki Yago, Representative Director, COVER Co.

VARK has always been a great help to us with the VR live performances of our VTubers. I think the ability to share the experience of being close to fans, which is unique to VR live, is an attraction for both fans and their VTubers.

Naotaka Fujihira, Animation and Music Producer, NBCUniversal Entertainment Japan, LLC

The "cute" and "adorable" nature of the "Order is a Rabbit? The "cute" concept of "Order is Usagi-dasai? The reproduction of the characters' expressions and costumes was also excellent. The team's enthusiasm and cooperation in dealing with even the most detailed orders made this virtual live performance a fascinating content that we hope you will continue to pay attention to in the future!

Yuki Koyama, Chief Director, Dentsu Innovation Initiative, Dentsu Group Inc.

After the investment, we have continued to promote collaboration that leverages the unique characteristics of both companies, such as the realization of the "Teletext Virtual Music Festival" at the VARK ARENA. We will be happy to continue to work together to create a new entertainment platform that expands the sensibilities and talents of people around the world, backed by VARK's planning, development, and production capabilities.

Underwriter's Comment

Mr. Satoru Kawamura, Deputy General Manager, Investment Department, SBI Investment Co.

VARK has a cohesive team with the technical capabilities to create 3D models and stages at high quality, high speed, and low cost. In addition to the existing services for the highly enthusiastic user base, we expect that VARK will focus on planning and developing content that can be used on smartphones in the future, and provide services both in Japan and overseas.

Akira Nagashima, Principal, Jafco Group Inc.

As a user of VARK's Virtual Live and VARK SHORTS, I too enjoy them and am always amazed at the improvement in quality. I hope that you will take this funding opportunity to mass-produce more "No.1 Virtual x XXX" services and create an even better virtual world.

Mr. Shunsuke Nakaji, Principal, ANRI

It has been a while since I invested in VARK, but I respect the fact that they continue to take on various challenges such as VARK SHORTS, including the challenge to improve live quality. I think there is still more that VARK can do in this area, and I look forward to seeing the future progress of VARK.

Junichi Taguchi, General Manager, Investment Department II, Mitsubishi UFJ Capital Co.

I have been supporting VARK as the Capitalist in Charge since the initial investment in June 2018, and I have made an additional investment in this round. VARK is steadily growing toward its grand vision. We look forward to the release of new products that excite users, and we look forward to their global challenges in the future!