SoftBank Ventures Asia invests in Korean startup Sketchsoft’s $3.2m Series A

SoftBank Ventures Asia (SBVA), the early-stage venture capital arm of investment giant SoftBank Group, has co-led the $3.2-million Series A funding in Sketchsoft, a South Korean 3D sketch software developer.

SBVA was joined by Korean venture investor SV Investment as co-anchor in the funding round, which was also participated by Bluepoint Partners.

Established in 2020 by Dr Kim Yongkwan, Sketchsoft is a tech-based startup that aims to reduce the complexity of existing 3D creative tools and facilitate the easier expression of ideas in 3D data.

Its flagship product is Feather, a 3D sketch software that enables artists and designers to draw their concepts in 3D as easily as if they were using pen and paper.

The startup said creators can also use their fingers to view their drawing from all angles in 3D space, as well as see what their sketches would look like in the real world through AR technology.

According to the announcement, the startup will use the fresh funding to recruit more industry talent and explore new global markets in different fields related to 3D creation such as design, art, and entertainment.

“Our vision for Sketchsoft is to create a tool that can help creators produce their ideas directly in a three-dimensional format as easily as if recording their thoughts in a notepad,” said Dr Kim.

By making it simpler and more accessible to turn ideas into 3D, it is easier for anyone to explain and visualise their concepts, leading to better understanding and efficiency.

“With this funding, we hope to add more depth to our talent pool and unlock the potential of 3D creation for more verticals across global markets,” Kim added.

Technologies such as blockchain, non-fungible tokens (NFTs), and augmented and virtual reality (AR and VR) are blurring physical and digital boundaries, resulting in the of metaverse – loosely understood as a collaborative and immersive virtual world.

Since the metaverse can be expressed in 3D environments, it represents a new frontier for 3D creations as they can be both the building blocks of the world and digital artwork that can have real value assigned to it via NFTs.