Invact Metaversity raised its First Funding Round
Edtech startup of the former Twitter India Head Manish Maheshwari, Invact Metaversity has raised its first round of funding from Future Group’s Kishore Biyani, former Infosys director TV Mohandas Pai and others. The amount raised through the funding is not disclosed by the company.
The undisclosed amount was raised at a valuation of $33 million with the dilution of less than 15% equity. The company claims that overall 17 global entrepreneurs participated in the round.
Founded in the second half of 2021 by Manish Maheshwari and former Microsoft executive Tanay Pratap, Invact Metaversity runs a 3D immersive virtual learning platform. It allows students to communicate with each other and their teachers through animated avatars.
Invact Metaversity has released a statement saying that the idea of Metaverse would dominate all aspects of living with virtual lives playing an equally important role as physical realities. The company is planning to use the raised capital to hire engineers, illustrators and 3D designers.