UK-based LandVault, a large metaverse builder, has raised an additional $3 million in an extended Series B funding round fuelling the growth of the company's commercial operations across Dubai, Europe, Asia, and the US.
Investors include The Sandbox, The Gemini Frontier Fund, HodICo, and hedge fund Kingsway Capital. This growth funding adds to the $25 million Series B fundraise in October 2021.
LandVault will use the funding to support the creation of Matera, a protocol it is building to make the metaverse more accessible. It will invest in AI-powered tools to fast-track the monetisation and creation of immersive virtual experiences.
"We are pleased that LandVault has raised additional funding to continue to develop its vision to accelerate the metaverse economy using AI technology. This is a good example of the progress that is being made by the companies within the SVV1 portfolio,” says Nicholas Lee, Director of Pires
LandVault is part of Sure Valley Venture Fund 1 (SVV1) an AI-focused portfolio fund in which Pires has a combined direct and indirect interest of circa 20%.
"Our vision has always been to accelerate the metaverse economy, and the advancement of AI technology is helping us fast-track our roadmap. The metaverse needs a 'WordPress moment' for anyone to build virtual experiences as easily as a website, and we are investing heavily in R&D to build these tools,” says Sam Huber, CEO of LandVault
"LandVault has established itself in just a year as one of the most active metaverse builders. We are pleased to support them further on this journey as they continue to develop their activities and technology to inspire many other creators of the metaverse,” says Sebastien Borget, COO and Co-Founder of The Sandbox.
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