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Viewpoints: July 2023 wrap-up
Your monthly summary of metaverse investments and FOV Ventures updates
Sointu Karjalainen, Petri Rajahalme & Dave Haynes
August 04, 2023
Welcome to this month’s curated digest of viewpoints, news and investment activity covering the Metaverse, XR and Spatial Computing - brought to you by FOV Ventures. We are covering the main news of July, such as our expanded EDGE Network and exiting job openings.
FOV Ventures news
Reader poll
Portfolio news
Funding and acquisitions
Data points
Dave Haynes, Petri Rajahalme and Sointu Karjalainen (FOV Ventures)
Reader poll
Last week, we asked readers what they think of the Vision Pro. 100% of readers like it, with Muki Kulhan commenting “if only I had one now!”
What will be your go-to event in the second half of 2023?Responses may appear in the next edition. |
FOV Ventures news
Photo credit: Makea Games
First, say hello to our EDGE Network. We have a network of experts who offer their insights as part of our work, from Asha Easton to Greg Ivanov. Check out our partners here.
Our expanding portfolio is hiring. Explore exciting roles such as Level Designer and Community Manager at Makea Games, among 17 other varied positions. We value your connections - don't hesitate to circulate these opportunities among your contacts.
Missed AWE? Catch up with the 'Start-Ups & Investors: Investor Q&A - Ask Us Anything!' panel featuring Petri and fellow VCs in this recorded session. You’ll hear some industry insights, investor-founder relationship and success factors, funding strategies and opportunities.
Additionally, our event calendar is bustling with activities. Find us at:
Venice Immersive 2023 August 31 to September 9 featuring over 40 VR films and VR games
Berlin IFA Next on September 1-5
PGC Helsinki on September 12-13
TechBBQ 2023 on September 13-14
We're excited to connect!
Portfolio news
Photo credit: RLTY
M-XR developed a universal capture solution that overcomes the current 3D capture limitations. It provides an unbiased and lossless format similar to the RAW formats used in photography.
RLTY created a platform for the Non Fungible Conference - check it
Move.ai appeared in a webinar exploring the future of motion capture hosted by disguise's Product Manager Camilla Powell and joined by Niall Hendry, VP of Partnerships at Move.ai. Check out the recording here.
Funding and acquisitions
Image credit: China Mobile
Infrastructure, infrastructure, infrastructure. That was the key theme for July as companies financed the backbone of the metaverse before they jetted to their holidays. Passage, which provides cloud computing for metaverse-related apps, raised $6m, while Aethir raised $9m to provide a decentralized infrastructure for similar areas. Cosmic Wire, which runs multiple infrastructure projects, raised $30m. And Futureverse, - a metaverse platform - raised $54m in funding.
Otherwise, we saw a smattering of alternative companies receive some uplift. Karta raised $1.1m to build marketing campaigns in the metaverse. HashPort, a web3 developer, raised $8.5m in funding. AutogenAI raised $22.3m to help companies write bids and tenders for contracts. And Sound.xyz raised $20m to deliver music in a web3 scope.
Finally, China Mobile formed an alliance to focus on metaverse projects, including Xiaomi, Huawei and many others. The significance of this is that China Movile has 940m subscribers - which may put some heft into the group’s wider plans.
Data points
Photo credit: Financial Times
21: Number of GenAI start-ups that raised funding within the USA in the first half of 2023. China tops the list with 22.
$208m: Amount of funding raised for VR and AR companies in June, according to PitchBook.
86%: The number of brands that see the global network of virtual worlds as an opportunity to reach audiences, according to InStreamly.
Dave Haynes, Petri Rajahalme and Sointu Karjalainen (FOV Ventures)