Ambit represented the fund Presto Ventures in negotiations for a venture capital investment in the Estonian startup Wolf3D.
Ready Player Me, the platform developed by Estonian startup Wolf3D, enabled players to create a full-body avatar from a selfie and use it across games that had integrated the platform. A funding round totaling approximately EUR 1.2 million, with participation from Presto Ventures, was intended to support further development of the platform for games and virtual reality. The investment was announced on August 6, 2020.
Wolf3D and the Ready Player Me platform
Founded in 2014, Wolf3D initially focused on 3D scanning of people, including for the creation of video game characters.
Ready Player Me enabled users to create a personal full-body avatar from a selfie. Players could use their avatars across games that had integrated the platform. The technology also supported different visual styles, allowing avatars to be adapted to individual games and genres.
At the time the investment was announced, the company was making its technology available to small and medium-sized developers. An article in E15 also described how the platform worked and its focus on these developers.
Investors and use of proceeds
Alongside Presto Ventures, the funding round included Trind Ventures, Koha Capital, Spring Capital and Contriber Ventures, together with several angel investors. The stated amount represented the total size of the round.
New funding was intended to support further development of Ready Player Me, including personal full-body avatars for games. According to a report by Tech.eu published at the time, the company also planned to expand its solution from web browsers to smartphones.
