Invact School Pvt Ltd, which runs edtech startup Invact Metaversity, said it has raised a seed capital of $5 million (around Rs 37 crore) from global venture capital firms including Arkam Ventures, Antler India, Picus Capital, M Venture Partners, BECO Capital and 2am VC.
“Metaverse is a concept that stands at a cusp where it will be the lead factor in transforming the educational landscape. We will use this investment to bolster the product and technology team for the Metaversity platform, build a virtual-first curriculum and expand into Europe and the US," said, Manish Maheshwari, Founder and CEO, Invact Metaversity.
In December last year, Maheshwari announced his exit from Twitter to set up Invact Metaversity. It is a 3D immersive virtual learning platform that allows students to communicate with one another and their teachers via animated avatars regardless of their physical location.
Recently, the startup raised an undisclosed amount at $33 million valuation from Future Group’s Kishore Biyani, TV Mohandas Pai of Manipal Global Education and former Facebook India head Kirthiga Reddy, among other investors.
Previously, the company has been backed by Balaji Srinivasan, former CTO of Coinbase and GP at Andreessen Horowitz, Caesar Sengupta, former Vice President and General Manager of Payments & the Next Billion Users initiative at Google, Benjamin Ampen, Managing Director of Twitter for the Middle East and Africa region, among others.
Over the past few months, metaverse has been an emerging concept across markets and investors as well as startups have garnered interest from a host of venture capitalists. Recently, the metaverse platform Bullieverse, gaming metaverse platform MOBOX raised capital.
