Tag: Investor

Infinite Reality, a company focused on developing immersive web content with WebXR support, has secured a substantial $3 billion investment to further its vision for the future of the internet. This significant funding, provided by a single private investor, is an uncommon occurrence in the tech industry. Established in 2019, Infinite Reality is best known for its flagship product, iR Studio, an engine designed for creating immersive websites where visitors are represented as avatars in a virtual world. These sites support multi-user functionality and WebXR compatibility, allowing them to be accessed through any XR headset that supports WebXR via a web browser. The recent $3 billion funding round has increased the company's valuation to $12.25 billion, a remarkable achievement considering that a startup valued at $1 billion is typically considered a unicorn in the tech world. What sets Infinite Reality apart is not just its valuation but also the fact that the investment came from a single private investor, rather than a traditional investment firm or corporation. While the identity of the investor remains undisclosed, their focus on global technology and real estate investments narrows down the pool of potential candidates to some of the wealthiest individuals in the world. The investment was motivated by the CEO's vision for the product and the emphasis on data ownership for customers. In a statement provided by Ashcroft Law Firm, the investor highlighted the importance of empowering users and redefining ownership in the digital age, particularly as AI technology continues to advance. From Infinite Reality's perspective, the funding represents a step towards building a more immersive internet and giving businesses control over their data. CEO John Acunto expressed excitement about providing a platform where businesses can create immersive experiences while retaining ownership of their data and customer relationships. Despite its focus on the immersive web, Infinite Reality remains relatively unknown in the XR space. The company's strategic acquisitions, including AR tech firm Zappar and avatar company Action Face, as well as seemingly unrelated purchases like entertainment company RektGlobal and the Drone Racing League, have contributed to its unique but uncertain position in the market.

Tag: Investor

Immersive Web Company Infinite Reality Raises $3 Billion From a Private Investor

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