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Mytaverse raises $7.6M in funding for ‘digital twin’ metaverse

New tech delivers ‘in person’ experiences regardless of real world location

Mytaverse, a company founded in 2020 and officially launched in 2021 has raised $7.6 million for a platform that enables enterprises to launch metaverse applications. 

Since launch, Mytaverse has delivered business metaverse solutions for major brands like Zaha Hadid Architects, PepsiCo, packaging manufacturer Tekni-Plex and Dassault Aviation. 

The latest round of funding was led by Blumberg Capital, alongside Baselayer Ventures, Accelerator Ventures, Correlation Ventures among others. Founder and managing partner of Blumberg Capital, David Blumberg will be joining Mytaverse’s board of directors with Baseline Ventures’ J Milciunas. 

Blumberg stated, “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.

Meet my digital twin

Mytaverse founder and chief technology officer, Jaime Lopez said, “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.”

Mytaverse’s USP lies in its simplicity in delivering a powerful and realistic user experience. Users do not need any special hardware, goggles, or AR/VR devices to delve into the cloud-rendered world it creates. It’s all done via your choice of device and a web browser.

According to Kenneth Landau, CEO of Mytaverse, “We are building the premium business metaverse, not to replace physical interactions, but rather to replace the cold and fatiguing digital interactions that we have all put up with for the past two years with something closer to the richness and connection of real human experience.

“After logging in, they get to experience what was once only possible in person within the Mytaverse experience, ensuring that our interactions are still meaningful and fully connected even when we are physically apart.”

The company’s new funding will see to the acceleration of product development, the expansion of sales and technology teams, and will further deepen interactions with brands and support strategic partnerships. 

Most especially, it will enable the launch of powerful new technology as well as an automated platform solution that gives enterprises the tools needed to build and manage their very own 3D assets, spaces and metaverse experiences.

Written By

Isa Muhammad is a writer and video game journalist covering many aspects of entertainment media including the film industry. He's steadily writing his way to the sharp end of journalism and enjoys staying informed. If he's not reading, playing video games or catching up on his favourite TV series, then he's probably writing about them.

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