Infinite Reality Secures $350M Investment and Acquires Landvault in $450M Deal, Elevating Valuation to $5.1 Billion
July 13, 2024, 3:43 am
Location: United States, New York
Employees: 51-200
Founded date: 2020
Total raised: $350M
In a groundbreaking move on July 9, 2024, Infinite Reality Inc., a leading metaverse platform, announced a significant $350 million funding deal that propelled the company's valuation to an impressive $5.1 billion. This substantial investment, entirely in equity and not debt, marks a pivotal moment for Infinite Reality as it accelerates its growth trajectory in the immersive tech industry.
Moreover, Infinite Reality unveiled its acquisition of Landvault, a renowned technology company and studio specializing in the creation of digital twins and immersive environments for both corporate entities and government organizations. The acquisition, valued at $450 million in an all-stock transaction, solidifies Infinite Reality's position as a frontrunner in delivering cutting-edge spatial computing and AI-powered capabilities to empower brands in engaging and monetizing their audiences.
John Acunto, the co-founder and chief executive of Infinite Reality, expressed his enthusiasm about the recent developments, stating, "Now, having joined forces with Landvault and secured this $350 million fundraise, we possess robust capitalization, financial flexibility, and a fortified position from which to successfully execute our global go-to-market strategy." This strategic partnership with Landvault, known for its extensive presence in the Middle East and Europe, not only supports Infinite Reality's market expansion plans but also cements the company's reputation as a global leader in immersive technology.
Landvault, a well-established industry studio, has a remarkable track record of constructing over 1.2 million square feet of virtual immersive experiences for a myriad of high-profile brands, including Mastercard Inc., Standard Chartered Plc., and Hershey's. The company's notable projects in the open metaverse space include collaborations with Hershey in Decentraland and the World of Women experience in The Sandbox, showcasing their expertise in creating immersive digital environments.
Following the acquisition, Landvault's talented employees and creative team will seamlessly integrate into Infinite Reality, ensuring continuity and the retention of top-tier talent. Landvault's strong presence across the Middle East will remain operational, further expanding Infinite Reality's global footprint and bolstering ongoing projects and client relationships.
Sam Huber, the founder and chief executive of Landvault, expressed his excitement about the partnership, stating, "Joining forces with Infinite Reality allows us to leverage their extensive resources and expertise to scale our vision to build the future of the internet even further." This collaboration between Infinite Reality and Landvault promises to push the boundaries of what is achievable in the realm of immersive technology, creating unparalleled experiences for businesses and consumers worldwide.
In addition to the recent acquisition of Landvault, Infinite Reality has been on a trajectory of growth, with several notable acquisitions in the past year, including The Drone Racing League for $250 million, Ethereal Engine for $75 million, Action Face Inc. for $10 million, and Stakes for $8 million. These strategic moves have contributed to Infinite Reality's total year-to-date transaction value reaching an impressive $800 million, solidifying the company's position as a key player in the immersive tech landscape.
As Infinite Reality continues its journey towards becoming a publicly traded company, the integration of Landvault's innovative tools and expertise will undoubtedly enhance the company's offerings and further propel its growth in the immersive tech sector. With a newly-expanded global structure and a potential path towards additional capital markets initiatives, including in Europe and the Middle East, Infinite Reality is poised for continued success and innovation in the evolving metaverse landscape.
Moreover, Infinite Reality unveiled its acquisition of Landvault, a renowned technology company and studio specializing in the creation of digital twins and immersive environments for both corporate entities and government organizations. The acquisition, valued at $450 million in an all-stock transaction, solidifies Infinite Reality's position as a frontrunner in delivering cutting-edge spatial computing and AI-powered capabilities to empower brands in engaging and monetizing their audiences.
John Acunto, the co-founder and chief executive of Infinite Reality, expressed his enthusiasm about the recent developments, stating, "Now, having joined forces with Landvault and secured this $350 million fundraise, we possess robust capitalization, financial flexibility, and a fortified position from which to successfully execute our global go-to-market strategy." This strategic partnership with Landvault, known for its extensive presence in the Middle East and Europe, not only supports Infinite Reality's market expansion plans but also cements the company's reputation as a global leader in immersive technology.
Landvault, a well-established industry studio, has a remarkable track record of constructing over 1.2 million square feet of virtual immersive experiences for a myriad of high-profile brands, including Mastercard Inc., Standard Chartered Plc., and Hershey's. The company's notable projects in the open metaverse space include collaborations with Hershey in Decentraland and the World of Women experience in The Sandbox, showcasing their expertise in creating immersive digital environments.
Following the acquisition, Landvault's talented employees and creative team will seamlessly integrate into Infinite Reality, ensuring continuity and the retention of top-tier talent. Landvault's strong presence across the Middle East will remain operational, further expanding Infinite Reality's global footprint and bolstering ongoing projects and client relationships.
Sam Huber, the founder and chief executive of Landvault, expressed his excitement about the partnership, stating, "Joining forces with Infinite Reality allows us to leverage their extensive resources and expertise to scale our vision to build the future of the internet even further." This collaboration between Infinite Reality and Landvault promises to push the boundaries of what is achievable in the realm of immersive technology, creating unparalleled experiences for businesses and consumers worldwide.
In addition to the recent acquisition of Landvault, Infinite Reality has been on a trajectory of growth, with several notable acquisitions in the past year, including The Drone Racing League for $250 million, Ethereal Engine for $75 million, Action Face Inc. for $10 million, and Stakes for $8 million. These strategic moves have contributed to Infinite Reality's total year-to-date transaction value reaching an impressive $800 million, solidifying the company's position as a key player in the immersive tech landscape.
As Infinite Reality continues its journey towards becoming a publicly traded company, the integration of Landvault's innovative tools and expertise will undoubtedly enhance the company's offerings and further propel its growth in the immersive tech sector. With a newly-expanded global structure and a potential path towards additional capital markets initiatives, including in Europe and the Middle East, Infinite Reality is poised for continued success and innovation in the evolving metaverse landscape.