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Metaverse gaming startup AvatarLife has raised $1.5 millon in funding from Info Edge Ventures, the investment arm of Naukri.com parent company Info Edge India Ltd.
This marks Info Edge Ventures' third investment in the gaming sector, following their investments in fantasy e-sports platform Fanclash and augmented reality toymaker Mirana.
The startup said it plans to use the raised capital for product research and development, community building, and expanding its global team.
AvatarLife, founded by Sushant Chandrasekar and Gaurav Gupta last year, offers a variety of single-player, multi-player, and play-to-earn skill-based games in a virtual world.
The platform also allows other creators to develop and operate games on its platform. Currently, It is focused on developing mobile-based 3D products specifically for Indian users and its virtual world, AvatarLife, offers over 25 games across three operators.
“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,” said Gaurav Gupta.
“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,” said Chinmaya Sharma, partner, Info Edge Ventures.
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