Info Edge leads $1.5mn round for metaverse gaming co AvatarLife

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Naukri.com’s InfoEdge Ventures led a $1.5 million seed funding round for AvatarLife, a metaverse gaming platform. Prior to this, the tech-giant has invested in AR-based toymaker Mirana and popular fantasy esports platform FanClash, and has been known to identify and invest in big startups at an early stage.

Sushant Chandrasekar and Gaurav Gupta founded AvatarLife to provide players with single-player, multi-player and play-to-earn skill-based games. The platform also allows creators to develop and operate their own games.

With the current funding, the company plans to improve their research and development and expand their global team to build a stronger community.

“We are transitioning from a 2D internet living on our screens to a 3D space present inside our screens. This will require new ways of thinking about the user experience and, ultimately, product development. We will continue to invest in building the technology and developing capabilities in-house,” Gupta said in a statement as quoted by Economic Times.

The platform has over 25 games across three operators and is creating mobile-based 3D products that mainly targets gamers in India.

“We believe the next iteration of the internet will be more visual, bringing together games and socialisation. This will require deep design and technological capabilities. AvatarLife’s founding team has the right set of skills and experience to innovate in this arena,” Gupta added.

Speaking on the same, Chinmaya Sharma from Info Edge Ventures said, “We believe the next iteration of the internet will be more visual, bringing together games and socialisation. This will require deep design and technological capabilities. AvatarLife’s founding team has the right set of skills and experience to innovate in this arena.”

Many online gaming companies in recent days are eyeing Metaverse and the Web3 technologies and are working out a way to utilize them in gaming. Popular gaming companies like Loco announced their own in-house subnet for Web3 products in partnership with Avalanche.

Kratos Studios also recently raised Rs 160 crore in its seed round, while also acquiring IndiGG in order to build the world’s largest Web3 gaming Decentralized Autonomous Organization (DAO) for creating and investing in Web3 games.

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