Metaverse gaming platform AvatarLife has raised $1.5 million in a seed funding round led by Info Edge Ventures which is the investment arm of Naukari.com parent Info Edge India Ltd.
This is Info Edge Venture’s third investment in the gaming space after fantasy esports platform Fanclash and augmented reality-based toymaker Mirana.
The proceeds will be deployed towards product research and development, community building and to expand its global team, AvatarLife stated in a press release.
Co-founded in 2022 by Sushant Chandrasekar and Gaurav Gupta, AvatarLife offers single-player, multi-player and play-to-earn skill-based games in its virtual world. It also allows other creators to develop and operate games on its platform.The company is in process to develop mobile-based 3D products targeted at India users. As per the company, it offers more than 25 games across three operators.
In February, Web3 gaming startup Kratos Studios raised Rs 160 crore in its seed round, which was led by Accel Partners, with participation from Prosus Ventures, Courtside Ventures, Nexus Venture Partners, Nazara Technologies.
It competes directly or indirectly with the likes of Roblox, Zepeto, Minecraft, The Sandbox and others.
