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Mytaverse Closes $7.6 Million Seed Round Fueling Development of the Enterprise Metaverse Infrastructure

Mytaverse, the next-gen platform empowering enterprises in a virtual shared metaverse, announced that 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. David Blumberg, founder and Managing Partner of Blumberg Capital, is joining Mytaverse’s Board of Directors, as is John Paul Milciunas from Baselayer Ventures.

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“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.

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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.

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“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,” added Landau.

The new funding will 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. On the product side, continued improvements will soon allow users to create increasingly accurate and look-alike digital versions of themselves, further adding to the sense of being in a true-to-life metaphysical space. Users will gain a more refined sense of freedom, permitting them to do what they want, when they want, and from anywhere.

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