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MyDearest

Extended Reality
Product stageSegments
Early
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AR/VR platforms, Content
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Japan-based MyDearest specializes in developing and publishing original Japanese-style VR adventure games. As of November 2023, it had released three games: Dyschronia: Chronos Alternate (priced at USD 20; released in 2022), Altdeus: Beyond Chronos (USD 15; 2020) and Tokyo Chronos (USD 18; 2019). These VR titles were released for the Meta Quest and Sony’s PlayStation 5.

The company claims that its games feature extended storylines, offering a playtime of 15–30 hours per game. Notable developments regarding its VR games include 1) Dyschronia: Chronos Alternate becoming a top-user-rated game on the Meta Quest Store (an average rating of 4.7 out of 5 across ~390 user ratings as of November 2023); 2) Altdeus: Beyond Chronos becoming the highest-rated app on the Meta Quest Store as of January 2021; and 3) Tokyo Chronos being picked on the Oculus Go Store’s ‘Oculus Essentials’ amongst 1,000+ apps.

As of November 2023, the studio was in the process of developing Brazen Blaze, a 3v3 online VR PvP game. The company planned to have an open beta test for the title in February 2024, following its closed alpha test in October 2023, which attracted 2,000+ players worldwide.

Apart from generating revenue via game sales, the company’s publishing department assists creators in publishing their games and acts as a marketing agency to help foreign developers enter the Japanese market.

MyDearest also rents its motion capture studio for creators to record and distribute videos, including those for Vtubing and other VR applications. Studio pricing plans range from JPY 90,000 to JPY 240,000 (~USD 600–USD 1,600) based on the length of time taken for filming.

Key customers and partnerships

In September 2023, MyDearest partnered with VRChat, a US-based company that operates the social VR platform service “VRChat'' to 1) expand visibility of the former’s VR games using VRChat and 2) create content specifically for VRChat.

Funding and financials

In November 2023 , MyDearest raised USD 7.8 million in a funding round led by SBI Investment Co. with participation from DG Daiwa Ventures Inc. and NetEase Games, alongside other investors. The funds were planned to be used for the expansion of MyDearest's original intellectual properties and publishing business for VR headsets like Meta Quest and PS VR 2.

Extended Reality

Extended Reality

Key stats
Featured companies
236
Total funding (USD)
13.5 Bn
Total addressable market (USD)
100.4 Bn
Key competitors
 
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EDGE Insights

XR and MEP (Q4 2023): XR GenAI adoption accelerates alongside funding rebound

Recent Updates

Funding
Nov 10, 2023
VR game development studio MyDearest raises USD 7.8 million in funding
Extended Reality

Company Brief


HQ location:
2-7-15 Nihonbashibakurocho, Chuo-ku, Tokyo The Parkrex Nihombashi Bakurocho 5F Tokyo JPN
Founded year:
2016
Employees:
11-50
Total Funding:
USD 7.7 million
Last Funding
USD 7.7 million, Nov 2023

Funding


Investors


No investor data is available

Funding data are powered by Crunchbase
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