Market One Capital joins ＄9.5M seed investment in MetaGravity
24 April, 2023, 13:12
Warsaw-based venture capital fund Market One Capital has joined a $9.5 million seed investment round in MetaGravity. It’s a London-based firm creating the technical foundation for a scalable and decentralised metaverse, Tech.eu reports.
- Founded in 2021 by Rashid Mansoor and Tobin Ireland, MetaGravity is a deeptech startup that is solving the issue of distributed compute infrastructure required to support metaverse-scale gaming. The company says it will offer unlimited scale of supporting more than 1 million concurrent players (CCUs) plus associated AI and interactive objects.
“MetaGravity’s proprietary IP has the potential to completely change the possibilities the metaverse holds. Its next-generation technology is unconstrained by the mathematical limitations of existing infrastructure, delivered in a cost-efficient and flexible way. The best and brightest metaverse simulations of the future will be built on MetaGravity’s next-generation platform,”Ian Wittkopp, Chief Operating Officer at Sino Global Capital, comments.
- The list of investors in the seed round include include Sino Global, Spartan Group LLC, Gravity Fund, Perridon Holdings, Pancasila, Ex-Capital, Mulana, Cogitent Ventures, Agrippa Capital, K5 Global Ventures, Moonpay, and Project Godijra.
- Market One Capital is one of the participating investors. It is a Pan-European early stage venture capital fund investing into marketplaces, digital platforms, and SaaS projects. In March 2023, the fund joined a €5.1 million round for another British startup, Connect Earth.
- MetaGravity will apply the fresh funds for development of its decentralized metaverse solution.