Metaverse startup XR has raised $250,000 in a seed round led by angel investors, including fashion designer Tarun Tahiliani, Netprophets Cyberworks’ founder Amitabh Vira and Nitin Sethi, senior vice president and chief digital officer, consumer business, Adani Group.
XR Central plans to use the funds to strengthen the development and design teams as well as expand into new territories. The startup will also pump in the funds to accelerate product development and expand its global footprint.
Founded in 2020 by Anshul Agarwal and Shrey Mishra, XR Central is an interactive technology studio. The company runs a do-it-yourself metaverse building platform, MetaQube, which helps its clients create metaverse experiences.
MetaQube is a software-as-a-service (SaaS) platform for creators and enterprises who want to engage with their target audience in an immersive ecosystem, the company explained.
“The funds come at a crucial stage for us as we look at expanding into new regions and adding more dynamic and talented folks to the team. We believe that in order to grow, we need to have strategic associations with the right people at the right time. Nitin and Tarun are both well-known personalities globally in their respective industries,” said Agarwal, who is also the director at XR Central.
Meanwhile, edtech startup Online Live Learning raised $115,000 in a seed round from EvolveX, a global accelerator programme by We Founder Circle. The startup plans to utilise funds to scale the platform and teacher network across India. A part of the investment will also be directed to talent acquisition.
Founded by Shreyaan Daga and Koshika Mahajan, Online Live Learning offers online courses to both teachers and students. All the classes on the platform are live and interactive, the company said.
Set up in 2020, We Founder Circle is a community of founders and angel investors. The network invests $50,000 to $2 million in early-stage startups. Besides funding, it also provides business development and networking opportunities to startups.
We Founder Circle facilitated $12 million worth of investments across deals in the year 2021 alone and invested in 56 startups.
