GoodGang Labs gets US$2M in seed funding to further grow its KiKiTown product

Singapore-based avatar communications company GoodGang Labs announced today that it has successfully raised US$2 million in seed funding from Kakao Investment, a subsidiary of the prominent South Korean tech giant.

The funding will be strategically allocated towards the growth and development of GoodGang Labs’ flagship product KiKiTown.

KiKiTown is a global platform for avatar-based communication that provides individuals with a virtual environment where they can freely express themselves and connect with others regardless of appearance or physical location.

It sets itself apart by exclusively transmitting voice and avatar motion data, resulting in a significantly lighter and more efficient platform. Additionally, unlike 2D-based interfaces, KiKiTown offers a 3D environment that aims to empower users with dynamic viewing angles through multiple virtual cameras.

“We’re on a mission to revolutionise the way individuals connect and communicate in the digital age. We envision a world where technology is a catalyst for deeper human connections, where individuals can freely express themselves, connect with diverse communities, and engage in enriching conversations without the limitations of appearance or physical location,” said CEOand Co-Founder of GoodGang Labs, Dookyung AHN.

“Our vision is to create a virtual environment where people can explore their true selves and interact with others in a way that’snever been possible before.”

In the next three to six months, GoodGang Labs plans to launch KiKiTown for Web2 with the goal of revolutionising how individuals connect and interact in virtual environments. The company is also tapping into the B2B market by offering its human-to-avatar technology in the form of a SaaS API.

Additionally, the company is preparing for the release of GangHouse for Web3 which will further enhance the capabilities of avatar communication in the metaverse.

GoodGang Labs stated that its BeerGang NFT collection was sold out on the LINE DOSI NFT marketplace during the challenging crypto winter, which serves as a testament to its growing market appeal. The collection consisted of 3,333 unique items.

GoodGang Labs was co-founded by Dookyung Ahn, who previously worked as a Strategic Partner Manager for Stories at Facebook and also served as the Head of Developer Partnerships at LINE as a Product Manager. The co-founding team also include Jaecheol Kim, who was a co-founder of Seerslab, and Seoyoung Kim, who previously held the position of Art Team Lead at Facebook.

Before this round, GoodGang Labs also secured undisclosed funding from investors such as Naver, NaverZ, Planetarium, and Kimgisa Lab.