Invact Metaversity has raised $5 million in a seed round led by Arkam Ventures. Antler India, Picus Capital (Germany), M Venture Partners (Singapore), BECO Capital (Dubai) and 2amVC (the US) also invested in the round, which values the startup at $33 million.
Founded by Manish Maheshwari and Tanay Pratap, Invact Metaversity aims to build a virtual university town with multiple colleges. The university is being built in the metaverse in order to foster an immersive environment conducive to learning.
The startup has also raised capital from over 70 individuals such as Balaji Srinivasan, former chief technology officer at Coinbase; Nithin Kamath, co-founder of Zerodha; and Kunal Bahl, founder of Snapdeal, among others.