AR company Kaleidoco announces $7 million seed funding round

Augmented Reality (AR) company Kaleidoco announced the completion of $7 million seed round on Wednesday.

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Investors include Animoca Brands, GameFi Ventures, Gemini, Jane Street, Adit Ventures, Merit Circle, Nexo, HexTrust, SuperChain Capital, and The Seelig Group.

In a statement, the company said it would use the seed funding to accelerate growth and make new hires.

Founded in 2018 by Cassandra Rosenthal and Jennifer Tuft, who are co-CEOs of the company, Kaleidoco debuted its Particle Ink metaverse at TED2022 in April.

It described its metaverse as being in the “2.5th dimension” as it mixes augmented reality with other web3 technologies.

“Using AR as the foundation for a metaverse allows us to stay grounded in our physical world and with those around us while also benefiting from the boundless potential of the digital world,” said Tuft.

The raise is the latest example of funds flowing into the web3 and gaming space in search of better development of online worlds. Earlier this week Wildcard Alliance, a new gaming project created by the developer behind popular app-based game Words with Friends, raised $46 million in a Series A round. 

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© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Callan is a reporter for The Block based in London. She started her career at an expat magazine in southern China and has since worked for publications in China, Somaliland, Georgia and the UK. She also edits the podcast ChinaTalk.

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