Kaleidoco, a web3 entertainment technology company creating original augmented reality (AR) experiences, has raised $7M in seed funding. Top names in gaming, entertainment, and blockchain participated in the round, including Animoca Brands, GameFi Ventures, Gemini, Jane Street, Adit Ventures, Merit Circle, Nexo, HexTrust, SuperChain Capital, and TSG (The Seelig Group). The funding will be used to accelerate growth through key hires as Kaleidoco continues to build out its AR tech platform and Particle Ink metaverse.
The company recently debuted Particle Ink at the opening of TED2022, with nearly 1,400 guests simultaneously experiencing AR, projection mapping, and live performance through synchronised tablets. Kaleidoco also recently opened the first live portal into the 2.5th Dimension, Particle Ink: The Speed of Dark, in the Las Vegas Arts District. Later this year, Kaleidoco will be expanding the Particle Ink Metaverse with the release of its first AR NFT collection and GameFi experience utilising its patented Augmented Unification Technology.
“Kaleidoco’s mission is to propel Web3 and mixed reality entertainment forward through the Particle Ink Metaverse and augmented reality technologies that engage, inspire, and connect the world,” said Jennifer Tuft, co-founder and co-CEO of Kaleidoco. “Using AR as the foundation for a metaverse allows us to stay grounded in our physical world and with those around us while also benefiting from the boundless potential of the digital world.”
“We are excited and driven by the potential of AR both in and out of the entertainment sector, and we believe AR will play just as big of a role – if not a bigger one – than VR in the metaverse,” said Cassandra Rosenthal, co-founder and co-CEO of Kaleidoco. “AR is the 4th dimension layered onto everyday life. We are already seeing the beginnings of this for instance in social interactions, education, and retail which seamlessly engages customers and clients more robustly.”
“We invest in disruptive companies with the power to shape tomorrow’s economy, and we are particularly excited about Kaleidoco’s cross-vertical potential and ability to scale at pace,” said Jon Cholak, partner and co-chief investment officer at Adit Ventures. “The company’s unique Augmented Unification technology is primed to shake up the entertainment industry, and we’re looking forward to seeing its evolution and the immersive and interactive experiences it can create.”
This article was first published on TheVirtualReport.biz.