The Last City studio closes $35M B-series, aims to build metaverse platform – Road to VR
Ramen VR, the creators of the crowdfunded VR MMORPG Zenith: the last cityannounced the closing of a $35 million Series B round, which the studio says will allow it to significantly increase in size as it aims to expand Zenith in a metaverse platform that goes far beyond its current reach.
The studio’s latest funding round was led by Anthos Capital and Dune Ventures. Additional investments come from the Makers Fund and personal investments from Andreessen Horowitz partners Andrew Chen and James Gwertzman.
The studio’s Series B brings its outside investment to over $45 million; Ramen VR’s penultimate $10 million round was led by Makers Fund in September 2021.
Ramen VR says the funding will be used to “double the size of the studio as it transforms Zenith in one gaming super app containing multiple game worlds and experiences across VR, desktop and mobile.
“Welcoming for Zenith has been amazing. We are already profitable, but now we want to take gaming to the next level, creating huge interconnected game worlds for everyone to explore,” said Andy Tsen, Co-Founder and CEO of Ramen VR. “The closing of this important round of funding will help us grow our team so that we can continue to develop our vision. We are fortunate to partner with these exceptional investment partners who believe in us as we continue to support Zenith throughout the game’s life cycle.
Ramen VR gained early success on Kickstarter during a 2019 campaign that raised $280,000 to create the VR native MMORPG for PC VR, Meta Quest, and PSVR headsets. Since its launch in January 2022, Zenith: the last city was a resounding success: the game is currently in the top 5 most popular games on the Quest platform.