Invact Metaversity raises $5 million funding led by Arkam Ventures

By Kevin Colleran On Feb 21, 2022

Mumbai: Invact Metaversity has raised $5 million in a seed round led by Arkam Ventures. Antler India, Picus Capital (Germany), M Venture Partners (Singapore), BECO Capital (Dubai) and 2amVC (the US) also invested in the round, which values the startup at $33 million.

Founded by Manish Maheshwari, the former head of Twitter India, and Tanay Pratap, Invact Metaversity aims to build a virtual university town with multiple colleges. The university is being built in the metaverse in order to foster an immersive environment conducive to learning, the company said in a statement.

The startup has also raised capital from over 70 individuals such as Balaji Srinivasan, former chief technology officer at Coinbase; Nithin Kamath, cofounder of Zerodha; and Kunal Bahl, founder of Snapdeal, among others.

Maheshwari, who is also CEO, said in a statement, “Metaverse is a concept that stands at a cusp where it will be a 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.”

Antler India, one of the investors, plans to infuse $100-150 million in more than 100 Indian startups over the next three years.

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