July 09, 2024
Infinite Reality, a firm specializing in metaverse-related technologies, has secured an investment of $350 million and bought the game development company Landvault for $450 million. This investment comes from a private multi-family office that has a keen interest in global technology, media, and real estate.
Project | Latest Raise | Latest Raise Date | Stage | Category |
|---|---|---|---|---|
Infinite Reality (iR) | $350M | July 09, 2024 | Investment | AI |
This transaction highlights the rapid financial growth of Infinite Reality, with its worth now reaching $5.1 billion as it concentrates on developing immersive platforms and enterprise service technologies.
Throughout this year, Infinite Reality, headquartered in New York, has invested over $800 million in shares for various acquisitions. These include The Drone Racing League ($250 million), Ethereal Engine ($75 million), Action Face ($10 million), and Stakes ($8 million).
Infinite Reality announced that it obtained a $350 million minority investment from a private multi-family office with interests in global technology, media, and real estate. This investment has boosted the company's valuation to $5.1 billion. Currently, Infinite Reality employs around 140 people, while Landvault has a team of 36.
About Infinite Reality
Infinite Reality (iR) is a pioneering firm that is shaping the future of digital media and ecommerce by harnessing the power of AI and immersive technologies. iR's virtual realms provide brands and creators with complete control over content distribution, audience engagement, and monetization of their work, all while retaining data ownership. With a deep understanding of Hollywood production and extended reality (XR), iR is revolutionizing the boundless potential of interconnected digital landscapes in today's world. iR's brand portfolio encompasses the iR Engine (previously known as Ethereal Engine), Drone Racing League, XR production hub Thunder Studios, creator talent management company TalentX, and digital marketing agency Fearless Media.
The company enjoys the support of a remarkable group of investors, including RSE Ventures, Liberty Media, Lux Capital, Lerer Hippeau, MGM, CAA, T-Mobile Ventures, Courtside VC, Exor, Terracap, IAC, Live Nation, DJ and music producer Steve Aoki, rock group Imagine Dragons, NBA player Rudy Gobert, Interscope Records, among others.
Website: https://theinfinitereality.com/
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