The Montreal company Squido Studio recently achieved a masterstroke. How? By raising $3.7 million for the development of DigiGods. This VR and mixed social platform is specially designed for teenagers and young adults. His goal? Foster dynamic social interactions, allowing users to connect and share experiences with their friends, wherever they are.
This fundraising attracted renowned investors. Triptyq Capital, the main funder, specializes in financing technology start-ups in the creative sector. Other players such as Grishin Robotics, FJ Labs, Hartmann Capital and Fairway Capital have also joined the adventure. Their expertise in video games and the metaverse will provide valuable added value to Squido, allowing it to realize its vision for DigiGods.
Transform virtual reality!
The support doesn’t stop there. The Canada Media Fund has invested $1.5 million in Squido through its innovation program, while Meta helps with awareness and moderation of the platform. Thanks to this fundraising campaign, Squido is well positioned to transform the virtual reality landscape and strengthen its international presence.
This initiative should also boost the technology industry in Quebec. David Chartrand, the CEO and co-founder of Squido, emphasizes that this financing will create around twenty new jobs. DigiGods will offer an immersive experience where each player can play mini-games, challenge other participants or collaborate on ambitious projects. Éric Laurent, marketing director and co-founder, adds that the platform promises captivating interactions, making each moment as alive as in reality.
To stand out, DigiGods highlights four key innovations. First, immersive multiplayer physics creates an ideal interactive environment for authentic interactions. Next, the content creation system is simplified, allowing users to drag and drop interactive objects easily. Third, instant loading of experiences, inspired by TikTok, provides quick access to mini-metaverses. Finally, compatibility with mixed reality and hand tracking promises total immersion, without the need for controllers.
Chartrand and Laurent are convinced that DigiGods will appeal to players thanks to the freedom it offers. Since its beta launch on Meta App Lab, more than 100,000 people have tried the platform. The latter giving it an average rating of 4.8 out of 5. The goal is to attract one million players by the end of the year, supported by three major content updates and a marketing campaign with influencers in virtual reality.
The partners of Triptyq Capital, Bertrand Nepveu and Guillaume Therrien, affirm that their investment is proof of confidence in the potential of Squido. According to them, DigiGods is not just a simple gaming space, but a complete social experience that meets the expectations of today’s young people.
The DigiGods target audience is growing rapidly. With 34 million virtual reality headsets already in circulation and around 1.3 billion teenagers worldwide, the growth opportunities are enormous. If DigiGods can capture even a small fraction of this market, it could amass millions of monthly active users.
Adopting a freemium model with in-app purchases allows Squido to build a solid economic model. It also offers the chance to generate recurring revenue while offering a captivating platform.
Before launching Squido, its co-founders had already proven themselves with ChallengeU, a back-to-school platform, and Novatic, a digital transformation agency. These experiences allowed them to understand the importance of intuitive design and robust game mechanics.
Today, Squido is recognized for its immersive virtual reality experiences. No More Rainbows, for example, has generated over three million dollars in revenue and is expected to reach six million in total. With over 500,000 downloads and a rating of 4.6 out of 5, this title demonstrates the creativity and innovation that drives Squido.
