Edtech Startup Invact Metaversity Raises Funds At $33 Million Valuation
Invact Metaversity, an edtech startup at the intersection of education and metaverse, has raised funds from more than 70 global corporate leaders and founders of unicorns at a $33 million valuation.
The funding round saw participation from Kishore Biyani (Future Group), T.V. Mohandas Pai (Manipal Global Education), Kirthiga Reddy (former Facebook India head) and Dr Ritesh Malik (Plaksha).
As per the San Francisco and Bengaluru headquartered startup, entrepreneurs from startups like Zerodha, Razorpay, Sheroes, Zilingo, Snapdeal, Koo, Cars24, Suki, Bounce, Leap Finance, etc., participated in the round. Additionally, global leaders from Microsoft, Google, Twitter, Uber, Amazon, Meta (previously, Facebook), Coinbase, Softbank, among others, have also joined the financing round.
Invact Metaversity | 3D Immersive Virtual Learning Platform
Founded by Manish Maheshwari, former Twitter India head, along with former Microsoft executive Tanay Pratap, Invact Metaversity is a 3D immersive virtual learning platform that is creating high-quality and virtually immersive learning experiences for everyone, delivered to them wherever they are, at a price they can afford.
The edtech platform allows students to communicate with one another and their teachers via animated avatars regardless of their physical location.
Speaking about the need for the platform, Manish Maheshwari, Founder of Invact Metaversity, said,
“The COVID-19 pandemic has pushed people to experience colleges and offices from home. Also, existing tools like zoom was a boxed and scripted experience. The social part wasn’t existing. The world is getting ready for a more immersive experience and is ready for the metaverse, with hardware becoming cheaper and the network is more ubiquitous. Education is ripe for disruption, as it is one sector that needs to be disrupted.”
By enabling students to hang out together in virtual spaces, Invact Metaversity facilitates peer-to-peer learning and adds a community layer, which had been missing in the online learning space.
Invact Metaversity is currently in its pre-revenue stages, and the product will soon be launched. Its team is already in talks with the likes of IIT Madras University.
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