Molten Ventures backs UK startup Hadean with $30 million to power the metaverse

The current virtual worlds seem to offer limited experience - small scale, siloed, and insecure and mass adoption of the metaverse can be a gamechanger.

London-based deep tech startup Hadean has raised $30 million in funding to build out its metaverse infrastructure technology to support virtual worlds in immersive entertainment and enterprise digital twins.

Leading the Series A round was Molten Ventures, with backing from 2050 Capital, Alumni Ventures, Aster Capital, Entrepreneur First and InQTel. The Series A, along with an investment from Epic Games, will help Hadean build out the company’s scalable, interoperable and secure metaverse capabilities. 

The fresh wave of funding will accelerate its ability to give creators the tools in new and emerging metaverse markets to change every aspect of how we work, build, buy and consume.

Founded in 2015, the startup aims to reimage distributed, spatial and scalable computing for web 3.0 and the metaverse. The distributed cloud platform enables scalability, security, and interoperability, driving the metaverse and digital immersive experiences for enterprise, commercial, gaming and government customers.

Craig Beddis, Hadean co-founder and CEO said: “We want to bridge physical and virtual worlds - to help us make better decisions and ultimately improve the quality of our lives in the physical world. Today's virtual worlds are a limited experience - small scale, siloed, and insecure. The true success and mass adoption of the metaverse will rely on the ease by which creators will be able to build their own experiences at scale, leveraging open and robust metaverse-as-a-service technologies.”

The startup has developed vital metaverse components and signed multi-year agreements in entertainment (Minecraft, Pixelynx, Sony and Gamescoin), as well as with education and enterprise digital twin providers.

David Cummings, venture partner at Molten added: “Molten has been a part of Hadean’s journey since early 2019. Since then, we have seen the Hadean team deliver ambitious technical milestones, build an impressive customer base across a number of sectors and continue to attract dynamic talent.”