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Interact accelerates global expansion with XR no-code platform
- Writing language: Korean
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Summarized by durumis AI
- Interact has launched a Series A investment round to enter the global market based on its education and training XR content development platform, 'ETXR'.
- ETXR has gained recognition in the overseas market for its ability to allow anyone to easily create XR content, and Interact plans to expand its business through this investment, including integrating generative AI technology and establishing an XR experience center.
- Interact plans to actively pursue global expansion, including establishing a joint venture in the UAE, leveraging its strengths in education and training to target the overseas market.
- Series A fundraising started
- Strength of educational training XR content
- Global market expansion plan
Source - Interact
Interact (CEO Namhyeok Kwon) announced on the 10th that it has started a Series A funding round to enter the global market based on its no-code XR content development platform. Interact plans to raise funds from the second half of this year, starting in July. Interact, which received a seed investment of 300 million won from the Incheon Creative Economy Innovation Center last year, has developed a no-code XR content creation engine called ETXR, which is being introduced and used in Kyrgyzstan, China, and Vietnam.
ETXR has the potential to replace American engines because anyone can easily create XR content. Interact has been designated as a promising export company by the Ministry of SMEs and Startups, and selected as a Global IP Star Company by the Intellectual Property Center, in recognition of its potential for overseas market entry and technological capabilities.
Interact, which has raised approximately 2 billion won in Series A funding from the Korea Technology Guarantee Fund and overseas investors so far, is looking for additional investors to reach its total target of 50 billion won. "We have been conducting research and development for the past five years to secure core technologies," said CEO Namhyeok Kwon. "We plan to expand our business, focusing on overseas markets, utilizing our strengths in the education and training field."
Interact plans to upgrade its engine by incorporating generative AI technology and establish an XR experience center with this funding. In the second half of the year, it also plans to launch a joint venture (JV) in the UAE, accelerating its global expansion.
