Mytaverse raises $7.6M for enterprise metaverse platform

Mytaverse, a Miami-based platform empowering enterprises in a virtual shared metaverse, raised $7.6 million in seed capital. The round was led by Blumberg Capital with participation from Baselayer Ventures, Correlation Ventures, Accelerator Ventures, and follow-on investor Alberto Peisach. 

Founded in 2020 by Kenneth Landau and Jaime Lopez, Mytaverse s platform enables business people to meet in immersive, true-to-life 3D worlds. While the initial launch of the cloud-based platform focused on meeting rooms, conferences, training simulations, interactive large-scale events, and exhibition spaces, the company is building for new multi-dimensional and cross-platform use cases across brand engagement, NFT galleries, entertainment, human resources, and coworking, in a more sustainable and cost-effective manner.

“We are building the premium business metaverse, not to replace physical interactions, but rather to replace the cold and fatiguing digital interactions we have been stuck with, with something closer to the richness and connection of real human experience,” said Kenneth Landau, CEO, and Co-Founder of Mytaverse.

“Mytaverse enables people to share wonder, excitement, and joy as if they are connected face to face. After logging in, they get to experience in the Mytaverse what was once only possible in person, ensuring that our interactions are still meaningful and fully connected even when we are physically apart,” added Landau.

Launched in 2021, Mytaverse has already delivered business metaverse solutions for major brands such as PepsiCo, Zaha Hadid Architects, Dassault Aviation, and packaging manufacturer Tekni-Plex, the company said.

The new funding will fuelproduct development, expand sales and technology teams, and support strategic partnerships. With the funding, Mytaverse plans to launch new technology, including an automated platform giving enterprises the tools they need to build and manage their own spaces, 3D assets, and experiences in Mytaverse.

 On the product side, continued improvements will soon allow users to create increasingly accurate and look-alike digital versions of themselves, further adding to the sense of being in a true-to-life metaphysical space. Users will gain a more refined sense of freedom, permitting them to do what they want, when they want, and from anywhere.

“The pandemic was a catalyst for virtualization and the opportunities for innovation in the metaverse continue to expand. Mytaverse embodies the future of the virtual enterprise, where companies increase engagement and efficiency by creating compelling experiences in the metaverse,” said David Blumberg, founder and Managing Partner of Blumberg Capital. “We are proud to partner with Kenny, Jaime, and the Mytaverse team as they help organizations unleash the potential of the business metaverse and bring transformative technology solutions to the enterprise and beyond.”

Blumberg is joining Mytaverse’s Board of Directors, as is John Paul Milciunas from Baselayer Ventures.

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Nancy Dahlberg