3D modeling firm Hexa has raised $20.5 million in its latest round of funding to facilitate work to bring its products into the Metaverse. The new infusion of funds will ostensibly allow the company to expand its current workforce in engineering and business operations and improve the company’s workflow.
Hexa raises $20.5 million in Series A funding round
3D modeling company Hexa announced the results of its Series A funding round, raising $20.5 million in funding. The round, which includes participation from Point72 Ventures, Samurai Incubate, Sarona Partners, and HTC, will allow the company to expand its current workforce to accommodate customers seeking its services, which have tripled this year.
Already working with stores such as Macy’s, Logitech, and gaming engine Unity, Hexa consists of importing real-life products into the metaverse world. This modeling is done semi-automatically, with AI algorithms and engineers converting catalogs of 2D images, such as those used by traditional catalog stores on the Internet, into 3D assets to facilitate entry into the metaverse for these parties.
The technology is used for a variety of applications, from creating complete metaverse stores to helping third parties use assets from game engines like Unity for their own experiences.
Jonathan Clark, CTO of Hexa, explained a bit about this process. He explained it this way.
Creating the product library, converting it to 3D, inspecting it, and deploying it is a tremendous task. But we are eliminating pain points by providing a fast, scalable solution to the very specific problems encountered by anyone selling anything in the Metaverse.
Differentiators
Hexa is just one of the players in the vast 3D modeling market for virtual spaces – including Meta, Sketchfab, and Vntana in partnership with Epic’s Realtyscan. However, the company hopes to differentiate itself from others on three key points: ease of use, quality of 3D conversion, and support.
For the first point, the company can create 3D models directly from its existing catalog, giving it an advantage over other companies that have to build their products from scratch; for the second point, Clark guarantees the fidelity of the models it produces,stating:
Hexa can match the 3D assets to the source image, so you can be sure that the assets fit at the pixel and voxel level.
Finally, customers can validate the model and provide feedback to the engineers to prepare it for practical use.
Image credit: Shutterstock, Pixabay, Wiki Commons
