(Reuters) -Augmented reality-focused startup Infinite Reality said on Wednesday it had achieved a valuation of $12.25 billion after raising $3 billion in a new funding round, without disclosing the names of the investors involved. Infinite Reality, which was founded in 2019, said the new fundraising was from a “private investor whose portfolio focuses on global […]
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Infinite Reality says $3 billion fundraising values it at $12.25 billion
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(Reuters) -Augmented reality-focused startup Infinite Reality said on Wednesday it had achieved a valuation of $12.25 billion after raising $3 billion in a new funding round, without disclosing the names of the investors involved.
Infinite Reality, which was founded in 2019, said the new fundraising was from a “private investor whose portfolio focuses on global technology and real estate investments”.
The company has previously tried to go public through a special purpose acquisition company Newbury Street Acquisition, but did not end up being listed.
Infinite Reality said it uses immersive technologies to offer a suite of services to brands and creators that can increase audience engagement and monetization.
Past investors in the company include entertainment and ticketing giant Live Nation, T-Mobile Ventures, RSE Ventures and Lux Capital, among others.
(Reporting by Manya Saini in Bengaluru; Editing by Krishna Chandra Eluri and Alexander Smith)