Backed by Epic Games, distributed computing startup Hadean earns $ 30 million to power the metaverse • TechCrunch

Hadean, a UK-based distributed space computing startup aiming to build the infrastructure for the burgeoning metaverse, has closed a $ 30 million Series A funding round from a cast of high-profile investors, including including Epic Games and Tencent.

Founded in London in 2015, Hadean began with a broad mission of making “the processing power levels of supercomputers available to everyone,” wrote TechCrunch in 2017, when the company was still operating in beta. Over the next few years, Hadean iterated for several use cases and emerged as a major player in the gaming sphere in particular, where he fuels big hits like Minecraft.

Basically, Hadean is all about helping developers scale their code base to support software that requires significant computing power, something that Minecraft particularly requires when it involves multiplayer involvement on the internet. Hadean’s space simulation library integrates with all major game engines and helps MMOs (Massively Multiplayer Online Game) and other online game developers avoid having to set limits for players or use other forms of technical deception (but limited) to get around problems created by hundreds or more players participating simultaneously. It’s all about keeping the dreaded “lag” at bay while retaining the depth, complexity and realism of an offline single player console game.

This is achieved through the magic of distributed computing, with Hadean’s platform eliminating “excessive middleware, orchestration and overengineering,” as the company puts it, dynamically providing more or less resources as required by a game.

But the underlying technology can be used for almost any use case, from resource-intensive business applications to web3, blockchain and metaverse. In July, Hadean secured a contract with the British Army to build a simulated training environment for land warfare.

A virtual world as illustrated by Hadean. Image credits: Hadean

Epic investment

And it is in this context that Hadean has now secured a slew of distinguished supporters eager to enter an early stage, while the metaverse is still in its infancy.

As reported for the first time last month by the Telegraph newspaper [paywalled]Hadean initially secured around $ 18 million in funding from investors, including Chinese tech titan Tencent and InQTel, a CIA-backed non-profit venture capital firm based in Virginia, United States. she was still in the process of closing the funding round, as she announces today.

The full list of (known) backers includes lead investor Molten Ventures (formerly Draper Esprit), Tencent, 2050 Capital, Alumni Ventures, Aster Capital, Entrepreneur First, InQtel and the mighty Epic Games, who is also a Hadean client . In fact, Epic Games had previously distributed funding to Hadean in the form of MegaGrants, which are basically grants to support companies working on projects to help support its Unreal Engine.

In an email to TechCrunch, Hadean CEO Craig Beddis said Epic Games was late to the Series A round and therefore had to invest via a convertible note, which basically means it’s short-term debt. which will be converted into shares. It’s also worth noting that Epic Games recently raised around $ 2 billion to build what it is advertising as a kid-friendly metaverse, which provides a further clue as to why the Fortnite creator is now investing directly in Hadean.

“Hadean’s computing power will provide the necessary infrastructure as we work to create a scalable metaverse,” said Marc Petit, who serves as VP of Epic’s Unreal Engine Ecosystem, in a statement. “The company’s technology complements Epic’s Unreal Engine by enabling massive amounts of concurrent users and unlocking new tools for creators and developers.”

Tencent’s involvement is also notable given the current geopolitical tensions between China and the United States. Beddis explained that Hadean ended up taking less money than Tencent offered so that he could stay compliant with the CFIUS (U.S. Foreign Investment Committee) and avoid a national security review.

With an additional $ 30 million in the bank, on top of the initial rounds raised earlier in the amount of approximately $ 16.5 million, Hadean is well-funded to double its current traction in the gaming, government and business realms and food. all kinds of web3 and metaverse applications.

“Hadean’s mission is to connect the physical and virtual worlds, to help us make better decisions and ultimately improve the quality of our life in the physical world,” said Beddis. “Today’s virtual worlds are a limited experience: small-scale, siled and insecure. That is why these are the technical challenges we are facing today. But we believe that true success and mass adoption of the metaverse will depend on how easily creators are able to build their own experiences on a large scale, leveraging open and robust metaverse technologies as a service. ”

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