Metaverse startup Mytaverse lands a $7.6M Seed round to build a business metaverse to enable people to meet face-to-face
The hype around the metaverse continues to grow as more and more companies jump into the bandwagon looking to explore new use cases for the nascent technology. Metaverse can be used in many fields including, education, gaming, medicine, finance, and immersive learning.
The use of the metaverse buzzword took off last year after Facebook re-branded to Meta with a pledge to spend billions of dollars to build what it describes as the next “embodied internet.” Meta is just one of the many big tech companies and startups working on the metaverse. Mytaverse is one of the many startups using the metaverse to enable people to immersively experience a world beyond reality. Mytaverse is a cloud-based platform for fully immersive 3D multiplayer experiences that recreate true-to-life interactions and environments.
Today, Mytaverse announced it has raised $7.6 million in Seed funding to support the evolving needs of enterprises. Blumberg Capital led the round, joined by Baselayer Ventures, Correlation Ventures, Accelerator Ventures, and others. A follow-on investment was made by Alberto Peisach.
Mytaverse will use the new fresh capital infusion to accelerate product development, expand sales and technology teams, and further deepen interactions with brands and support strategic partnerships. In particular, it will enable the launch of powerful new technology, including an automated platform giving enterprises the tools they need to build and manage their own spaces, 3D assets, and experiences in Mytaverse.
In conjunction with the funding, Mytaverse also announced that David Blumberg, founder and Managing Partner of Blumberg Capital, is joining its Board of Directors, as is John Paul Milciunas from Baselayer Ventures.
Founded in 2020 by Kenneth Landau and Jaime Lopez, Mytaverse is a next-generation platform that’s radically changing how we do business, enabling people to meet in immersive, true-to-life 3D worlds. By reimagining how people work, Mytaverse is building a business metaverse to enable colleagues and clients to meet face-to-face in an interconnected digital world at any time, from anywhere in the world, and through any device.
“The pandemic was a catalyst for virtualization and the opportunities for innovation in the metaverse continue to expand. Mytaverse embodies the future of the virtual enterprise, where companies increase engagement and efficiency by creating compelling experiences in the metaverse,” said Blumberg. “We are proud to partner with Kenny, Jaime, and the Mytaverse team as they help organizations unleash the potential of the business metaverse and bring transformative technology solutions to the enterprise and beyond.”
As the world reopens, people and businesses are in need of a solution to bridge the divide between physical and digital reality. Companies and their customers are struggling to align the experiences of in-person, hybrid, and remote interactions. Mytaverse, officially launched in 2021, has already delivered business metaverse solutions for major brands such as PepsiCo, Zaha Hadid Architects, Dassault Aviation, and packaging manufacturer Tekni-Plex.
While the initial launch of the cloud-based platform focused on meeting rooms, conferences, training simulations, interactive large-scale events, and exhibition spaces, Mytaverse is building for new multi-dimensional and cross-platform use cases across brand engagement, NFT galleries, entertainment, human resources, and coworking, in a more sustainable and cost-effective manner.
“Our mission at Mytaverse is to empower, engage and embolden the interactions between brands, their customers, and partners. We accomplish this by enabling our customers to deploy digital twins of their products in their own branded and photo-realistic, dynamic 3D setting. Mytaverse transcends borders and physical limitations by enabling anyone, anywhere, anytime to access the metaverse,” said Jaime Lopez, CTO, and Co-Founder of Mytaverse.
The beauty of the Mytaverse lies in its simplicity and the powerful, realistic user experience. No special hardware, goggles, or AR/VR devices are necessary for entering the cloud-rendered fully-immersive world. With just a device and a web browser, the Mytaverse experience begins. By engaging and interacting with brands and products, users feel like they are in the same physical space as company representatives.
“We are building the premium business metaverse, not to replace physical interactions, but rather to replace the cold and fatiguing digital interactions we have been stuck with, with something closer to the richness and connection of real human experience,” said Kenneth Landau, CEO, and Co-Founder of Mytaverse.
“Mytaverse enables people to share wonder, excitement, and joy as if they are connected face to face. After logging in, they get to experience in the Mytaverse what was once only possible in person, ensuring that our interactions are still meaningful and fully connected even when we are physically apart,” Landau added.