Improbable, a London, UK-based metaverse technology company, raised US$150M in funding.
The round was led by Andreessen Horowitz and SoftBank Vision Fund 2, followed by a cohort of Web3 and crypto investors including Mirana, DCG, CMT, SIG and Ethereal Ventures, Saranac partners, Round13 DAF, Zinal Growth, David E. Rutter.
The company intends to use the funds to to establish and develop M² (MSquared), a network of interoperable Web3 metaverses powered by its Morpheus technology.
Led by CEO Herman Narula, Improbable is a metaverse technology company, which partners with video game developers, entertainment companies, and academic institutions to enable virtual worlds. It is a provider of multiplayer services to over 60 global publishers and through its large scale simulation platform supports the UK government defence mission. Its Morpheus technology, an evolution of the company’s earlier SpatialOS product, supports over 10,000 players, able to interact with each other in dense virtual spaces. The platform now processes over 350 million communication operations per second (or ops) and was first demonstrated in live events with thousands of players in 2021. In January 2022, Improbable announced its transformation to accelerate in the metaverse.
The M² network will combine Improbable Morpheus technology with new services designed to support interoperability, commerce in digital assets and governance in Web3. It will bring together companies, existing communities and fans in sports, music, fashion and entertainment and enable them to interact in dense virtual spaces with unprecedented fidelity. The network is being designed to support integration with existing worlds as well as new projects. Improbable has established M² as a distinct entity to better enable governance in partnership with other businesses and eventually with its community.
FinSMEs
08/04/2022