3D software and services company Simmersion Holdings has announced $1.9 million in funding from Blue Cove Ventures and Hikari Private Equity, and says it will use the investment to launch a social network and virtual world platform to be called Mycosm.

The company says users can import 3D content to build their own worlds and share them online to play games, exchange media, "make money" and socialize with friends. The platform is set to enter private beta later in 2008 and is currently accepting invite applications on its site.

Simmersion also aims to license its platform to corporate customers for business applications. Says CEO Bob Quodling, "We are tackling the core problems with
virtual worlds: low fidelity, too technical, no control, no fun and no friends. Mycosm brings the
power of a compelling virtual world platform to everyday users for free.”