MetaGravity raises $9.5m in a seed round led by Sino Global, Spartan Group, and Market One Capital to build metaverse infrastructure
The London-based metaverse infrastructure provider secured capital from Sino Global, Spartan Group, and Market One Capital to expand its engineering team.
≈ £7.6M at $1 = £0.8042 on 21 Apr 2023
MetaGravity builds decentralised compute infrastructure designed to support massive-scale virtual worlds and metaverse gaming. The company provides scalable architecture with cloud cost efficiencies for game developers.
London-based metaverse infrastructure provider MetaGravity has secured $9.5m in a seed funding round led by Sino Global, Spartan Group, and Market One Capital, alongside other investors. The company will direct the capital towards expanding its engineering and product teams to build out its foundational infrastructure layer.
The freshly raised funds will support MetaGravity in scaling its platform to accommodate over one million concurrent users while improving cloud compute efficiency and integrating with existing game engines. The technology aims to provide game developers with arbitrary scale and cloud cost efficiencies for virtual world simulations.
Founders Rashid Mansoor and Tobin Ireland established the business to tackle the computational limits of current virtual environments. Backers noted the strategic importance of scalable infrastructure for mass consumer adoption of the metaverse.
From the founder
"Mass consumer adoption of the metaverse is inevitable in the medium term, but it will require the development of the highest quality customer experiences and sustainable cloud operating costs. This can only happen with the next-generation distributed computing infrastructure that MetaGravity is building. We have a major role to play in the development of a scalable, sustainable, decentralised, interoperable, and safe metaverse ecosystem"
Tobin Ireland
CBO at MetaGravity
Investor perspective
"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
Head of Investment, Sino Global
Use of funds
- 01Grow the team
- 02Continue product development
Investors
About the company
MetaGravity
MetaGravity develops distributed compute infrastructure for metaverse gaming and virtual worlds.