TRIPP, an award-winning leader in XR wellness and developer creating VR meditation experience has announced that it has secured a $11.2 million funding round which will be used for its expansion.
One of the company’s main priorities is to expand in order to meet the worldwide elevating demand for mental wellbeing apps that can be accessed through AR, VR as well on mobile platforms.
Nanea Reeves, founder and CEO of TRIPP said, “We’re grateful that more and more investors are recognizing the need for innovative wellness tools that expand beyond traditional meditation apps. Through our acquisition of Eden, we’re one step closer to truly building a mindful metaverse and establishing a safe space for transformative experiences in digital realities while also empowering creators to join us in our mission.”
TRIPP valued at $26.3million
The Series A was led by BITKRAFT Ventures, with Qualcomm, Amazon Alexa Fund, Niantic, HTC and existing investor Mayfield also participated. This totals TRIPP’s overall company funding to $26.3 million so far, including the $11 million funding round which was announced in June 2021.
Moritz Baier-Lentz, partner at BITKRAFT Ventures stated, “With over one billion people globally suffering from depression, anxiety, or stress, we’re hopeful that innovations like TRIPP can be a part of the solution. Beyond a great product that is already a leader in its category, there was a lot to like about what Nanea and the TRIPP team have built. It’s rare to find such a combination of authentic founder-market fit, operational excellence, and an exciting vision with many avenues for future growth.”
The company stated that the funds will be used to not only expand its team but will also support the acquisition of BeardedEye’s VR worldbuilding platform Eden, who are also the creators of the Galactic Gallery (2017) VR experience.
The Los-Angeles based company also stated that its third acquisition Eden, will soon launch on its eponymous VR platform, which it says will allow users to further “customize their TRIPP experience, explore digital realities and meet other people.”
TRIPP is currently available on multiple devices from Meta Quest 2, Vive Flow, PSVR, Nreal, and both the Web and mobile platforms. The app offers guided meditations, breathing exercises as well as the ability to track your progress for $5 a month or a lifetime access of $35.