Hexa Secures $20.5 Million In Funding To Support Its Metaverse Project, One 3D Object At A Time

Hexa, a 3D asset management firm that started in 2018, is making waves in the corporate landscape. The company just secured a whopping $20.5 million in its Series A funding round, a significant achievement. Hexa has partnered with prestigious brands such as Logitech, Macy’s, Crate & Barrel, and Unity. With these partnerships, Hexa is establishing itself as a reliable partner for managing 3D assets.

Investors seeking growth opportunities are now looking into Hexa 3D platform given the metaverse’s insatiable appetite for 3D objects. However, Hexa’s approach is multifaceted, but its primary objective is to convert retail products into 3D objects. These 3D objects can be viewed on VR headsets, AR devices, and computer browsers.

Transforming Images into 3D objects

Hexa’s process for creating 3D objects starts by either directly scanning the object OR sourcing images from the product’s website. Although the company is tight-lipped about its methodology, Hexa3D’s Reconstruction Engine employs advanced neural networks to streamline the conversion process.

Interestingly, Hexa’s use of neural networks to optimize 3D object creation is reminiscent of Neural Radiance Fields (NeRFs) technology. This can convert a series of photographs or a video into a 3D object viewed in virtual reality.

Hexa’s 3D object creation process is optimized by 3D artists and trained on a proprietary dataset of thousands of 3D objects. As a result, the outcomes are more sophisticated and polished than an individual could achieve independently.

Jonathan Clark, the Co-founder and CTO described the magnitude of converting a product library into 3D. It involves examining it, and deploying it as an enormous undertaking. By creating a streamlined and efficient process, Hexa is positioning itself as a 3D asset management services leader.

Who’s Investing In The Metaverse?

Hexa’s recent $20.5 million funding round involved participation from esteemed venture capital firms Point72 Ventures, Samurai Incubate, and Sarona Partners. That’s not all, leading technology company HTC is also involved in the round of funding. Before this, the company had already secured $1.2 million in pre-seed funding. There’s also another $5.5 million in seed funding rounds, bringing its total financing to $27.2 million.

With this substantial funding, Hexa plans to expand beyond its current team of 100 employees. These include engineering and business development professionals. The company has also partnered with top-tier technology giants, including Google, Microsoft, and Snap. This step is to further establish itself as a critical player in the rapidly growing 3D asset management market.

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