Samsung Invests $25 Million in Holoportation Metaverse Startup DoubleMe
Samsung Invests in DoubleMe

Samsung Invests $25 Million in Holoportation Metaverse Startup DoubleMe

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The global smartphone and tech giant, Samsung, is expanding on its idea of the metaverse with a $25 million investment in the metaverse startup, DoubleMe.

Last year, Samsung launched the ‘My House’ metaverse experience on the ZEPETO platform and a virtual store in Decentraland for potential customers to watch immersive Unpacked launch events and earn exclusive virtual items.

However, going a step further than using the metaverse for marketing, promotional, and entertainment purposes, the company has made a $25 million investment in South Korean metaverse startup DoubleMe, focusing on the metaverse applications beyond gaming or entertainment.

DoubleMe is on a mission to develop metaverse applications for businesses using holographic projection, volumetric capture technology, and mixed reality. It aims to bring holographic images into reality.

Metaverse can simply be described as a more engaging 3D representation of the Internet. However, the core of a metaverse relies on interactivity and social features. A metaverse environment can be a game or a virtual room where users can host keynotes powered by VR and AR apparatus.

DoubleMe is focused on the latter, developing new ways of facilitating virtual collaboration using devices like the Microsoft HoloLens 2. The startup is keenly working on holoportation technology in the metaverse and has amassed immense support from companies such as Vodafone, T-Mobile, and Orange.

The company will deploy Samsung’s $25 million for marketing, product development, staffing, and more. Nevertheless, beyond this investment, Samsung has been making rapid strides in the smart contact lenses market, eventually bringing the metaverse much closer to our physical world using augmented reality.

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