Finnish Yahaha Studios raises $40M in the Series A+ round
16 November, 2022, 12:30
Helsinki-based no-code game building platform Yahaha Studios has raised $40 million during its Series A+ funding round led by Alibaba. Prior to the investment, the company’s platform reached over 100,000 users, Tech.eu reports.
- Founded in 2020 by veterans from Unity, Microsoft, and EA — CEO Chris Zhu, COO Pengfei Zhang, and CTO Hao Min, Yahaha Studios is a platform that provides both developers and players the ability to build, publish, host, and operate 3D interactive multiplayer games.
- After launching the early alpha for its user generated metaverse creation tool, the company proceeded to raise another round. A Chinese tech giant Alibaba and a Singapore-based company Temasek co-led the investment.
- A China-listed metaverse and entertainment studio 37 Entertainment also supported the startup. The firm’s credits include the “first ever” gaming art museum in the Metaverse, launched by Meta in April.
- Earlier this year, Yahaha Studios completed raising $50 million in funding to launch its platform. During the three pre-launch rounds, the startup was backed by 5Y Capital, HillHouse, and Coatue.
- The fresh funding will allow Yahaha to grow Yahaha’s product, community, workforce, and ecosystem.