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Together Labs, creator of avatar-based social platform IMVU, has secured $35 million in funding from investors including Structural Capital and NetEase.

Chris Kerr, News Editor

January 26, 2021

1 Min Read

Together Labs, creator of avatar-based social platform IMVU, has secured $35 million in funding from investors including Structural Capital and NetEase. 

The funds will allow Together Labs, formally known as IMVU Inc, to fund product development along with other initiatives designed to accelerate its business. 

It's also notable to see Chinese game and tech company NetEase continue its recent spending spree, with it having sunk cash into developers including Bossa Studios and Behavior Interactive, and opened a studio in Japan, over the past two years.

According to Together Labs, IMVU is the world's largest avatar-based social network, and boasted over 7 million monthly active users in 2020. The smartphone and PC app allows users to create and customize virtual avatars, chat with friends, hang out at virtual locations, and design virtual products to earn real cash. 

"We appreciate the confidence this major investment represents led by NetEase and other investors," said Together Labs chief exec Daren Tsui. "The formation of Together Labs, is a new chapter for the company allowing us to aggressively pursue our vision of immersive social metaverses where authentic friendship and peer to peer commerce thrive."

About the Author(s)

Chris Kerr

News Editor, GameDeveloper.com

Game Developer news editor Chris Kerr is an award-winning journalist and reporter with over a decade of experience in the game industry. His byline has appeared in notable print and digital publications including Edge, Stuff, Wireframe, International Business Times, and PocketGamer.biz. Throughout his career, Chris has covered major industry events including GDC, PAX Australia, Gamescom, Paris Games Week, and Develop Brighton. He has featured on the judging panel at The Develop Star Awards on multiple occasions and appeared on BBC Radio 5 Live to discuss breaking news.

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