Metaverse UGC platform “BUD” completed $36.8 million in Series B financing, led by Sequoia India

It has been launched globally for half a year, and has been on the Top 10 list of social applications in 38 countries and regions.

Culture and Entertainment B round Guangdong Province was established in 2019
Create a global head 3D Metaverse UGC platform

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36氪 was informed that the Metaverse UGC platform BUD recently completed a $36.8 million Series B financing. This round of financing was led by Sequoia India, followed by ClearVue Kaiming Investment, NetEase and Northern Light Venture Capital, and the old shareholder GGV Jiyuan Capital. , Qiming Venture Partners and Source Code Capital also participated in this round of financing, and Mumian Capital continued to serve as the exclusive financial advisor for this round. BUD said that this round of financing will be mainly used for the continuous iteration of the editor and the in-depth development of the international market.  

Metaverse UGC platform “BUD” completed .8 million in Series B financing, led by Sequoia India

Cherry Blossom Wedding (3D interactive content created by BUD users)

As the lead investor of this round, Aakash Kapoor, vice president of Sequoia India, said when talking about BUD: “BUD is committed to building a Metaverse UGC platform for Generation Z and truly democratizing 3D content creation. There are currently tens of millions of users. Creating content on the BUD platform and spontaneously sharing the work to other social media has sparked a fission-like growth spread. We are impressed with the enthusiasm of the founders building BUD and excited about their future localization and growth plans. ” 

BUD was co-founded in 2019 by former Snap engineers Risa and Shawn, and the company is headquartered in Singapore.As a Metaverse UGC platform in the global leading camp, BUD has distinct characteristics. Ordinary users with different cultural and educational backgrounds can use BUD’s easy-to-use no-code tools to easily create personalized 3D interactive content. 

“At present, there are more than 15 million UGC original 3D works on the BUD platform, and the total number of 3D material transactions has exceeded 150 million.” BUD co-founder and CEO Risa introduced: “Since the global launch of the product in November 2021, BUD has 38 countries in North America, South America and Southeast Asia are among the top 10 social apps.”

Metaverse UGC platform “BUD” completed .8 million in Series B financing, led by Sequoia India

Gathering of aliens and astronauts (3D interactive content created by BUD users)

For any Internet platform-level application, it is their long-term pursuit to become the focus of young people around the world. BUD continuously integrates cutting-edge Internet technology with international trends and artistic trends, meeting the needs of Generation Z and Generation Alpha for entertainment, creation and sharing, and is becoming a new choice for Generation Z and Generation Alpha social platforms. 

Recently, Chen Weili Will, founding partner of ClearVue Kai Ming Investment, said: “As an entrepreneur who used to be in Silicon Valley, I felt a deep resonance from the two founders and saw their enthusiasm and shining points as technology entrepreneurs. BUD is a new Generations of users have created an immersive, aesthetic and fun 3D experience. While gaining explosive users and word-of-mouth growth around the world, BUD is rapidly growing into a leading UGC platform in the emerging wave of the Metaverse. We are delighted to join hands with Extreme The BUD team with a sense of mission and creativity uses our rich resources and experience in the global consumer, media and entertainment industries to help create epoch-making products.” 

In a series of previous interviews, Jenny Li, managing partner of GGV Jiyuan Capital, also said: “Young digital natives around the world are looking for new ways to connect. Under this wave, GGV is very happy to support BUD. BUD not only It provides every creator with a truly zero-threshold 3D creation experience, and allows them to connect with others through their own creations. We are moved by the enthusiasm and ability of the two founders of BUD, and look forward to the BUD team and global creators to jointly create At the same time, Luo Chao, executive director of GGV Capital, also congratulated BUD on its achievements in the interview: “The immersive interactive experience created by BUD has brought unprecedented experience to Generation Z users around the world. We Excited about the progress BUD has made and looking forward to its new product launch.” 

“The media of the next era will not be limited to traditional media forms such as text, pictures or videos, but will evolve towards a more immersive and interactive direction,” Risa continued to share, “BUD is a 3D model where users are creators. The UGC platform is not a one-man show for hardcore gamers or professionals, but a big stage for everyone to show their unique personalities and ideas.” 

Metaverse UGC platform “BUD” completed .8 million in Series B financing, led by Sequoia India

   BUD UGC editor mobile interface

“BUD represents the upgrade of media form, content form, and social activities. The product hits the two underlying needs of people: creative needs and social needs. Its mobile 3D UGC creation for global Z generation users And the experience platform has greatly lowered the threshold for user creation, and truly achieved ‘liberation of imagination and creativity’. The two founders Risa and Shawn serve as models for the new generation of entrepreneurs – studying abroad, working experience in large international Internet companies, returning to China To be a global entrepreneur, it has a global vision, user insight, entrepreneurial enthusiasm and excellent learning ability. Northern Lights is honored to participate in it and will continue to accompany BUD and team growth.” said Lin Lu, partner of Northern Lights Ventures. a similar view. 

Cloud-native, code-free 3D authoring tools continue to lower the operating threshold while giving users unlimited creative freedom. Users do not need to master any professional programming or modeling knowledge at all, they can use the built-in geometric modules and interactive props of BUD to build a complete set of exquisite 3D interactive scenes from 0 to 1. In addition, users can add text, pictures, music, and even video to the scene. Lighting and ambient backgrounds can also be customized to further create a more immersive virtual world. 

Co-founder Shawn said: “BUD makes 3D content creation more popular, and the younger generation can well participate in 3D content creation. In the future, we will continue to explore the infinite possibilities of the 3D media business model, and create good products through the realization of works and other forms. creator ecology.” 

Metaverse UGC platform “BUD” completed .8 million in Series B financing, led by Sequoia India

Gardens and fountains (3D interactive content created by BUD users)

Wu Jing, partner of Qiming Venture Partners, said: “We are constantly amazed by each upgrade iteration of BUD products, the creativity displayed by BUD users and the ability of BUD to empower users. It is great to see BUD growing rapidly around the world. It is a new generation of interactive entertainment and communication platform, and it is also full of expectations for the infinite possibilities of combining BUD products with new technologies such as AR/VR.” 

Zhang Xingchen, Managing Director of Source Code Capital, said: “The development of new technologies continues to drive innovation in users’ 3D social interaction, and for digital native users, their connection methods, expressions, interactive behaviors, and value transfer are also Constantly changing. BUD with stronger independent creativity, more modal interaction forms, and a more real-time immersive experience is what we and users are looking forward to. The BUD team has always dared to try and challenge, and with a global perspective and The way of thinking continues to innovate. While seeing the continuous activation of new forms of needs of global users and the continuous improvement of infrastructure ecology, we are also looking forward to the arrival of a new era of 3D social networking.” 

From the perspective of the global market, since the second half of 2020, well-known social and content platforms have begun to use high bonuses to encourage and attract creators. TikTok’s capital pool is as high as $1 billion, and Meta has also contributed $1 billion to motivate users. The scale of YouTube and Snap’s bonuses is also growing, and more and more ordinary users have become creators. 

According to the forecast data released by Adobe, the global creative software and creator economy market capacity is expected to reach 63 billion US dollars in 2024, and the user scale is expected to reach 2 billion in 2024. Whether it is economically developed North America, or developing South Asia, Africa and other places, a large number of Generation Z and Millennials are willing to invest in it and hope to become content creators. 

Metaverse UGC platform “BUD” completed .8 million in Series B financing, led by Sequoia India

Streetlights and Street Views (3D interactive content created by BUD users)

Since the launch of the product, the exquisite interactive scenes produced on the BUD platform have been published on different social platforms, surprising many people. Exquisite production scenes are often mistakenly thought that they were created by professionals using graphics software on the PC side, but in fact these are created by ordinary users using BUD applications on the mobile side, and these ordinary users are also digital assets. User base for dissemination and operation. 

The users of BUD are young digital natives who are full of creativity. For these young generations who love sharing and self-expression, they can create a personalized space in BUD without having to learn and understand complex programming. As a new generation of 3D UGC social platform, BUD hopes to help users better develop their ideas and realize their creativity in the continuous technical iteration and product polishing.

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