Oorbit, a London-based startup that is building infrastructure for the metaverse and its ecosystem, announced that it has secured $5M (approx €4.5M) in a seed round of funding. Renowned investor and shark Mark Cuban, Pixelynx and HOF Capital participated in the round.
“Oorbit is demystifying the major technologies that will play the biggest role in the growth of Web3 and the metaverse; blockchain, cloud streaming, NFTs, fintech, and more,” says Ash Koosha, CEO and co-founder of Oorbit. “We are combining the best parts of these complex technologies to enable episodic entertainment that is not just incredible but also approachable, for all audiences. This round of funding will support growth and platform expansion,” he adds.
Oorbit: What you need to know Launching in late 2022, Oorbit has developed the infrastructure that unites metaverse experiences and worlds into one place, removing barriers to entry.
With this platform, players can experience games, events, interactive media, marketplaces, and more from its content partners. The company has promised that it will be accessible in one easy-to-navigate platform on the types of screens users already own. However, a lot more information about the company is yet to come.
Investor Based out of New York, HOF Capital is a global multistage VC firm with $1B in AUM and partners with ambitious entrepreneurs from idea to IPO. “In any sector of technology, people are looking to shape the future,” says Corby Pryor of HOF Capital. “The key as an investor is identifying the team that can take an ambitious vision and deliver on it. That is Oorbit: great vision with the core ability to execute,” he adds.