Hadean raises  million from investors, including Epic Games

Hadean raises $30 million from investors, including Epic Games

  • Hadean aims to give the metaverse scale, security, and interoperability with distributed computing.
  • Deeptech startup technology has been used by companies like Microsoft and BAE.
  • Take a look at the 28-slide launch pad that was used to raise over $30 million from investors, including Epic Games.

A British deep-tech startup that aims to make building apps for the metaverse cheaper and more efficient has raised more than $30 million in a round backed by Fortnite developer Epic Games.

London-based Hadean, founded in 2015, has created infrastructure technology to support the development of virtual worlds that are increasingly being called the metaverse, a proposed vision of the internet as an immersive space that is attracting significant investment from tech giants such as Facebook.

Metaverse advocates say the technology may have applications for sectors as wide as gaming and healthcare to defense and entertainment, with Hadean’s technology used by Microsoft, Sony, Minecraft, BAE and the Francis Crick Institute.

Hadean has built a distributed computing business that allows multiple machines to be programmed at the same time and ensures that they only use the processing power they need to handle high-performance applications.

For companies trying to build metaverse operations, that means having access to computational power that allows them to start scaling applications more efficiently than they do today, often causing companies to overpay for power based on the Hadean CEO Craig Beddis.

“I think the alternative to that is that you would throw a lot of computing power at it, usually through the cloud or your existing data center infrastructure,” he said. “It’s in the interest of cloud players to encourage you to do that and overplan.”

For Mimi Keshani, Hadean’s chief operating officer, the metaverse has the potential to be “the next iteration of the web,” with Hadean attempting to bridge the gap between the physical and virtual worlds in a way that leads to better decision-making and ” better live”.

“It’s not just about immersive gaming environments to get lost in,” he said. “It’s really about how these digital versions of the world overlap and enhance our experiences in the physical world.”

However, experts say that the full version of the metaverse is some distance away. Keshani believes there are several “major technology hurdles” around scale, security, and interoperability that need to be overcome for the idea to become a reality.

“When we think about those ideal virtual worlds, they are limitless, on a large scale at the level of the universe, that scale today is extremely limited,” he said. “These symbiotic physical virtual worlds: We imagine moving between them seamlessly, but that interoperability doesn’t exist today.”

It raised the funds in a Series A round led by Molten Ventures, with additional funding from backers including Epic Games, 2050 Capital, Alumni Ventures, Aster Capital, Entrepreneur First, and InQTel, bringing the total raised to around $50. millions.

The funding comes at a difficult time, as rising interest rates and skyrocketing inflation have prompted investors to flee speculative tech companies, leading to aggressive liquidation that has seen thousands of million dollars of the market capitalization of technology companies this year.

Beddis acknowledged that the metaverse is still “a long way off,” but believes there will be an “evolutionary step” that will continue, as more brands get on board with using the technology.

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