20+ Metaverse Startups Shaping the Virtual World

Metaverse fulfills humanity’s wish of a fictional world where they can be whoever they want. Metaverse is the next big step in social connection where you can interact with others in a virtual world with emotions and feelings. The potential it holds is so immense that it made the world’s big company Facebook change its name to Meta. 

The Metaverse potential is not limited to social. The gaming world is another big part of Metaverse where it can make movies and series like Ready Player One and Sword Art Online come to life. The Metaverse buzz is further recognized by other big giants like Microsoft that own a big gaming market share. Microsoft even made a big acquisition of Activision to improve its position in the gaming market where other big players like Sony, Apple, and Google are also present. The Gaming Market is expected to reach $545.98 billion in 2028, so there is plenty of opportunity for everyone. 

The Metaverse applications further include healthcare, automotive, fashion, education, etc and we found that startups have made quite a presence in these application areas. 

As a startup scouting provider, we did research to find startups that are innovating in the Metaverse domain. The article discusses 22 startups working in the Metaverse domain.

1. NextMeet

Total Funding Amount$200K
Top InvestorsSudhakar Reddy
Innovative TechAllows users to use avatars to collaborate on projects, work remotely, and hold meetings.

Which Innovative technologies NextMeet is bringing to Metaverse?

Avatar-Based Metaverse Platform – NextMeet is an immersive platform that is based on avatars and enables users to collaborate on projects, work remotely, hold meetings, and engage in learning at a distance as well as networking in a 3D setting. NextMeet was founded to remove the sense of isolation and UI fatigue that comes along with working remotely. To address this issue, it has implemented interactive surroundings, spatial audio, and 3D avatars inside its diverse ecosystem to promote improved UI and UX. Now, the business targets consumers in the mass market, particularly in subdivisions such as businesses, educational institutions, virtual events and exhibitions, and so on. (Source)(Source)(Source)

“With the shift to remote working from the pandemic, keeping employees engaged has become a top challenge for many companies. You can’t keep 20 people engaged in the flat 2-D environment of a video call; some people don’t like appearing on camera; you’re not simulating a real-life scenario. That is why companies are turning to metaverse-based platforms.”Pushpak Kypuram, Founder-Director, NextMeet.

2. PolkaWar

Total Funding Amount$1.8 Million
Top InvestorsOddiyana Ventures, PolkaBridge, DAOStarter, CoFoundersLab, ChinaPolka, QuiverX, yellowroad.app, BMW Capital
Innovative TechDevelops an NFT marketplace and gaming platform.

Which Innovative technologies PolkaWar is bringing to Metaverse?

NFT Gaming Platform – PolkaWar is a startup that is developing an NFT game platform. The platform is a fusion of decentralized finance (Defi) and immersive gaming. Players of PolkaWar have the opportunity to build their unique characters, which they may then use in combat against other players. (Source)(Source)(Source)

NFT Marketplace – There is a marketplace within the game where players can trade in their items, weapons, and upgraded equipment for cryptocurrency. PWAR, the platform’s token, can be earned by players simply through gameplay. A few of the items can even be exchanged for replicas that exist in the actual world. The players have the option of betting on their token to acquire more of it, in addition to renting game equipment to earn additional tokens. (Source)(Source)

3. PlayersOnly

HQUnited States
Innovative TechOperates as a decentralised social media metaverse for sports.

Which Innovative technologies PlayersOnly is bringing to Metaverse?

Decentralized Sports Metaverse – PlayersOnly is a decentralized sports metaverse that allows athletes, teams, fans, and companies to communicate with one another while simultaneously developing a worldwide community. It has a social media app that allows users to make profiles and showcase talents and includes features such as tracking progress, highlighting reels, and anthropometrics. (Source)(Source)(Source)

4. Zash

HQUnited Kingdom
Total Funding Amount$162K
Top InvestorsSGH Capital, Entrepreneur First
Innovative TechOffers business grade NFT intelligence using Web3.0.

Which Innovative technologies Zash is bringing to Metaverse?

Social Investing Network – Zash uses Web3.0 to create a crypto-investing social network. Retail investors may form communities on the startup’s social network and learn from each other. It offers a suite of tools for creating and sharing investing ideas. By merging metaverse with the creator economy, the startup’s approach promotes retail investment to target younger retail investors. (Source)(Source)

Business Intelligence – Zash supercharges NFTs and provides business-grade NFT intelligence. Users can grasp the full NFT ecosystem and know about the top collections, competitors’ moves, and their market share. (Source)(Source)

5. Union

Total Funding Amount$260K
Top InvestorsOutlier Ventures, FI Group
Innovative TechEnables users to create a realistic 3D avatar from a selfie

Which Innovative technologies Union is bringing to Metaverse?

Realistic 3D Avatars – Union Avatars is a metaverse startup that allows users to create a realistic 3D avatar out of a single selfie. One can create a metaverse character and make them match exactly what they look like in real life. Additionally, they also offer a full-body character creation tool that allows customizing what the avatar looks like. (Source)(Source)(Source)

Which Awards have been received by Union?

Union Avatars won the 22@START 2022 award for the Best Start-Up. (Source)

6. GuildFi

Total Funding Amount$6 Million
Top InvestorsDeFiance Capital, Hashed
Innovative TechOffers an interconnected Web 3.0 ecosystem of games, communities, and NFTs.

Which Innovative technologies GuildFi is bringing to Metaverse?

Web 3.0 Ecosystem of Games – GuildFi is a Web 3.0 ecosystem that connects games, guild communities, and NFTs. It acts as a link between different play-to-earn games and guilds that are already present in the metaverse. GuildFi aims to optimize player benefits, minimize entrance barriers via gaming scholarships, and promote metaverse interoperability.  It has elevated gaming guilds to a higher level and established a reliable infrastructure for onboarding, connecting, and offering players, guilds, and games with increased adaptability and value. (Source)(Source)

What are the Acquisitions and Collaborations done by GuildFi?

In 2021, GuildFi formed a partnership with Bitazza in order to achieve its aim of becoming a Web3 platform that enables the growth of all gaming communities and promotes interoperability throughout the Metaverse. The alliance will result in the acquisition and administration of the “Freedom Guild.” Bitazza will supply the funds for the acquisition of Axie teams, and GuildFi, which provides Guild as a Service, will supervise the administration and rewards sharing. (Source)

“Apart from providing scholars access to games on the platform, GuildFi believes in providing equitable and inclusive access to investment opportunities. Bitazza is a leading cryptocurrency broker in Thailand and we believe the partnership will help maximize returns for GameFi players in the crypto and metaverse. First step to bridging gaming and payments through seamless conversion”Jarindr Thitadilaka, Co-Founder, GuildFi. (Source)

In 2021, GuildFi signed an agreement with Binance NFT with the goal of improving the gaming experience of every player throughout their Web3 game experience. As a result of the agreement, GuildFi and Binance NFT were able to enable the launch and trade of Web3 gaming assets all over the globe.

“Together with Binance, we will ensure an unparalleled gaming experience for GuildFi users. GuildFi was built to provide the best gaming experience to users and the partnership with Binance is an essential step towards our goal.”Jarindr Thitadilaka, Co-Founder, GuildFi. (Source)

In 2022, GuildFi, in partnership with Shrapnel, initiated a campaign with the objective of offering GuildFi users 100 free whitelist giveaways. Users of GuildFi have the unique opportunity to participate in this campaign that is only available to them. GuildFi is certain that this will provide its first-person shooter gamers with a one-of-a-kind experience by enabling them to play, own, and trade their NFT gears. (Source)

7. Crucible

HQUnited Kingdom
Total Funding Amount$1.21 Million
Top InvestorsDouble Peak, Ignite Group (Hong Kong), Master Ventures, G1 Ventures (London), Outlier Ventures
Innovative TechAims to create blueprints for the open metaverse.

Which Innovative technologies Crucible is bringing to Metaverse?

Open Metaverse – Crucible has created a platform for building open metaverses with Web 3.0 guidelines and blockchain technology. It’s creating an open infrastructure to connect game and web developers, and artists without the closed platform effects that have been caused by the lack of openness in existing platforms. Emergence SDK, its main technology, offers players in blockchain-based games a digital identity that is both secure and portable. (Source)(Source)(Source)

What are the Acquisitions and Collaborations done by Crucible?

In 2021, Crucible announced that it would be working with Ubisoft for a period of a few months. It was among one of the 11 firms to work with Ubisoft. The purpose of this initiative was to provide assistance to creative startups in their efforts to develop products and services that will enhance the entertainment industry. Crucible will benefit from Ubisoft’s assistance in developing better products aimed at the general public. (Source)

8. SuperSocial

HQUnited States
Total Funding Amount$7.1 Million
Top InvestorsInitial Capital
Innovative TechCreates, produces, and publishes experiences for the metaverse with a focus on iconic games.

Which Innovative technologies SuperSocial is bringing to Metaverse?

Iconic Metaverse Games SuperSocial is an innovative studio as well as a next-generation agency that creates, produces, and publishes experiences for the metaverse. Its primary focus is on the production of iconic games for Roblox, Web3, and other developing platforms. The “cell” idea used in mobile games, adapted specifically for use on metaverse platforms such as Roblox, has been introduced with the establishment of SuperSocial Labs. (Source)(Source)(Source)

“The experiences that we envision building at Supersocial are not merely ‘games,’ they are worlds that illustrate our approach to living in the metaverse. The relationships and experience our benefactors bring are just as valuable to us as any financial bottomline.”Yon Raz-Fridman, CEO, SuperSocial.

Ghostopia – Roblox Game from Supersocial

9. InWorld AI

HQUnited States
Total Funding Amount$19.7 Million
Top InvestorsKleiner Perkins, CRV, BitKraft Ventures, Disney Accelerator
Innovative TechAllows users to generate AI-powered virtual characters.

Which Innovative technologies Inworld AI is bringing to Metaverse?

AI-powered Virtual Characters – Inworld AI is a developer platform that allows users to generate AI-powered virtual characters for VR/AR, games, and virtual worlds. Inworld AI uses a blend of AI technologies to create virtual characters who can reply to inquiries and communicate. (Source)(Source)

“Inworld AI is a platform for building, basically brains for virtual characters. What we provide is a toolset that enables developers to add brains and build these characters for the world, for different types of environments. Virtual spaces like Meta’s Horizon Worlds, Roblox, Fortnite, and others that offer unique experiences and enable users to exist in other worlds will also continue to see quick demand from businesses, offering everything from games to story content to new enterprise applications. Ilya Gelfenbeyn, CEO, Inworld AI.

Inworld Studio – Inworld Studio lets users design intelligent virtual characters using natural language. Creators can adjust a character’s interests, motives, speech, memories, skills, and voice while constructing their brain. After training, characters can interact. The characters are immediately ready to engage with one another after their training is over. (Source)

“Creating truly intelligent virtual characters is highly complex and takes tremendous specialization. Inworld Studio performs the heavy lifting and enables developers and creators to leverage the platform to build whatever characters they choose.”Ilya Gelfenbeyn, CEO, Inworld AI.

Inworld Studio

10. Betterverse

HQUnited Kingdom
Innovative TechCharitable metaverse to donate to and in return receive an NFT

Which Innovative technologies Betterverse is bringing to Metaverse?

Charitable Metaverse Betterverse is a charitable metaverse blockchain platform in which users can donate to projects that are valuable to them and in return receive an NFT that has been derived procedurally. Betterverse gives each donor a unique digital tree in recognition of their contribution to an NGO or charity. This tree has the potential to continue to develop and make donations throughout time. This tree tracks the contribution from the giver to the recipient. They can see where the money went and its impact, from biodiversity to removing carbon. (Source)(Source

11. Ikonz

Total Funding AmountUndisclosed
Top InvestorsVillage Global, Woodstock Fund, Polygon Studios
Innovative TechA wealth-building platform to help manage digital assets.

Which Innovative technologies Ikonz is bringing to Metaverse?

Wealth-building Platform – Ikonz is a wealth-building platform with the goal of assisting owners of IP, artists, and other renowned icons with the management of their digital assets. It plans to market itself as a platform that assists intellectual property owners in knowing the complicated blockchain technology, as well as in monetizing and scaling their businesses.  The company is engaging along with many well-known businesses to adapt entertainment IPs, firms, and stories for use in the metaverse. (Source)(Source)

“A world-class blockchain aggregation company is the best way I and other IP owners could have found to start managing and monetizing IP assets on a global stage in multiple formats be it NFTs, avatars, or even basic rights management.”Rana Daggubati, Co-Founder, Ikonz.

What are the Acquisitions and Collaborations done by Ikonz?

In 2021, Ikonz announced that it will promote partnerships with global artists, brands, and fashion designers in order to work on iconic IP and distribute it across a wide variety of NFT platforms and metaverses with only a few clicks. (Source)

“There is too much chaos in the market today with 100’s new cryptocurrencies, NFT platforms, and upcoming metaverses, it gets very confusing for IP owners to navigate this ever-evolving space. A wise man in the late 1900s once said the task of art today is to bring order to chaos and Ikonz is a one-stop-shop for IP owners to navigate the complexities of the technology, understand the different means of monetization and upscaling, and bypass the regulatory and legal boundaries that stand in their way. We are very excited to bring Iconic characters from Amar Chitra Katha and Tinkle such as Suppandi, Shambu, and others to the world of NFTs and the Metaverse. We intend to announce new IP partners every month.”Abinav Varma Kalidindi, Founder & CEO, Ikonz.

12. MetaMundo

Total Funding Amount$2.7 Million
Top InvestorsAnimoca Brands
Innovative TechEnables distribution of 3D model NFTs.

Which Innovative technologies MetaMundo is bringing to Metaverse?

 3D NFTs MetaMundo is an NFT marketplace for the metaverse that is only devoted to the distribution of 3D model NFTs. It features unique works of art by some of the most well-known 3D digital designers in the world. The artist-created 3D models are then placed through a conversion and optimization process, which results in the production of several 3D files that may be used on a variety of metaverse platforms. Due to this, every NFT that is offered for sale on MetaMundo comes with a set of 3D files that enables it to function properly in a variety of metaverses, such as Cryptovoxels, Decentraland, The Sandbox, and Spatial. (Source)(Source)

“We’re solving the lack of NFT interoperability through a unique architecture we’ve developed which features a versatile and extensible NFT metadata structure, supporting multiple 3D file versions and offering the flexibility to add additional file versions later to enable future-proofing as 3D technology evolves.” – Finn Hansen, Co-founder, MetaMundo.

MetaPortal OG1500

What are the Acquisitions and Collaborations done by Metamundo?

In 2022, MetaMundo formed partnerships with a hand-picked group of talented 3D creators. These creators include Dutchtide, Luis Fernandez, and Mila Lolli. MetaMundo will begin the launch by releasing handpicked NFTs weekly which will be done in the early phases of the launch. The first two drops of the 3D NFT include the following: a Japanese Zen Art Gallery designed by Dutchtide and a huge ocean-side luxury mansion designed by Luis Fernandez.  The art gallery will be sold at auction as part of a 1/1 edition, while the villa will be offered for sale as part of an edition of 100. (Source)

13. Zepeto

HQSouth Korea
Total Funding Amount$155 Million
Top InvestorsSoftBank Vision Fund, JYP Entertainment
Innovative TechNFT marketplace for the distribution of 3D model NFTs

Which Innovative technologies Zepeto is bringing to Metaverse?

3D Avatars – ZEPETO is a 3D avatar platform that features a well-developed metaverse. Users of ZEPETO can meet their friends in a digital setting while also purchasing virtual objects on the site using the platform’s currency. To provide consumers with a unique experience while shopping online, fashion brands such as Gucci and Nike are releasing their latest collection for ZEPETO users. (Source)

“We see content creators collaborating with one another freely and creating a culture that’s unique to ZEPETO’s metaverse. It is our job to continue fostering this collaborative environment and empower our users.” – Dae-wook Kim, CEO, ZEPETO.


What are the Acquisitions and Collaborations done by Zepeto?

In 2021, a collaboration between ZEPETO and The Sandbox was announced. With the help of their respective virtual worlds, the two companies have linked up to create a parallel 3D place in which users may engage in social interactions, enjoy, and have access to a number of NFTs to use in the Sandbox. These NFTs include art and decorative items, objects, and ZEPETO gaming equipment. (Source)

In 2021, ZEPETO and Samsung announced their collaboration for an online virtual showroom development. They announced that they would be working together to present the virtual world experience known as “My House” online during CES 2022. It is something that the users of the Android version of the ZEPETO app would be able to enjoy. (Source)

In 2021, Zepeto and Gucci entered into a strategic partnership to customize avatars and develop virtual worlds. Users can outfit their Zepeto 3-D avatars with clothing from Gucci’s most recent collections by making in-app purchases, and they can also actively explore the Gucci Villa location. This is all part of the cooperation with Gucci. (Source)

14. Axie Infinity

Total Funding Amount$9 Million
Top InvestorsAnimoca Brands, Libertus Capital
Innovative TechPlay-to-earn metaverse game built on the Ethereum blockchain

Which Innovative technologies Axie Infinity is bringing to Metaverse?

Play-to-earn Metaverse Game – It is a play-to-earn metaverse game established on the Ethereum blockchain, inspired by Pokemon. Axies are virtual creatures that may be gathered, grown, bred, and fought over by players. Axies use the Land (NFTs) as a foundation of operations that can be swapped freely. (Source)(Source)

What are the Acquisitions and Collaborations done by Axie Infinity?

In 2021, Axie Infinity and Verasity entered into a partnership. Verasity received exclusive broadcasting rights to the FTX GalAxie Cup professional esports event as part of the collaboration. The tournament was only aired on VeraEsports.com and galaxiecup.com, with both platforms utilizing Verasity’s VeraPlayer. (Source)

“Tournament organizers around the world have been hosting amazing community events that continue to bring out the best in our community. As our community further pushes the envelope, we will be furthering our investments in building out infrastructure to support Axie Esports.”Andrew Campbell, Program Lead of Esports and Content Creators, Axie Infinity

In 2019, the partnership between Axie Infinity and Sandbox was officially revealed. The Axie Infinity team developed a racing game with Axie-voxel art by making use of the Sandbox platform. The game is accessible at the Axie Infinity ESTATE located in the center of the map. (Source)

Racing Game Using Axie-Voxel Art

15. Enjin

Total Funding Amount$61.9 Million
Top InvestorsGame Pad
Innovative TechActs as the infrastructure for a decentralized cross-chain metaverse.

Which Innovative technologies Enjin is bringing to Metaverse?

Efinity – Efinity is an ecosystem that operates on the blockchain and is built on Polkadot. Its primary function is to act as the infrastructure for a cross-chain metaverse that is decentralized. With the initial version of the Efinity parachain, which is focused on core functionality and chain stability, creators can send up to 2,200 tokens to various wallets in a single transaction. (Source)(Source)

“Efinity is the logical next step for NFTs as it removes friction for both developer and consumer adoption and will help blockchain reach an entirely new userbase.” Samuel Harrison, Venture Partner, Blockchain.com Ventures.

What are the Acquisitions and Collaborations done by Enjin?

In 2021, Enjin collaborated with MetaverseMe, an augmented reality (AR) platform to introduce tradable augmented reality fashion assets on the Ethereum blockchain. The Enjin-powered non-fungible tokens (NFTs) could be worn by users’ avatars in the MetaverseMe app. (Source)

In 2022, Enjin partnered with Square Enix to launch a digital collection of tokenized collectibles of Final Fantasy VII 25th Anniversary cards on Efinity, a decentralized cross-chain network designed to provide NFTs to customers. The digital collectibles will be accessible to consumers who purchase items in the physical collection and are expected to launch in 2023. (Source)

“This partnership marks a coming-of-age phase for digital assets and entertainment; Square Enix, an esteemed developer with iconic intellectual property, is paving the way for the industry. By using Efinity, fans can experience interactive NFTs without even realizing they’re on the blockchain. Enjin can establish the next phase of growth in blockchain entertainment, merging curiosity and creativity.”Witek Radomski, CTO, Enjin.

In 2022, Enjin announced a partnership with CryptoBlades, Riveted Games’ play-to-earn DeFi RPG game. The partnership aimed to bring 1.1 million gamers to Efinity, the newly created Polkadot parachain developed by Enjin. (Source)

“Efinity will bring immediate value to users with native support for NFTs and a full suite of NFT gaming utilities developed by Enjin. Along with our play-to-earn title CryptoBlades, we are excited to make our NFT bridging, curated marketplace, and launchpad available via Efinity.”Phillip Devine, CEO, CryptoBlades.

16. The Sandbox

HQUnited States
Total Funding Amount$95 Million
Top InvestorsSoft Ban, Adrian Cheng
Innovative TechOffers gaming experiences while also monetizing those experiences using the Ethereum blockchain.

Which Innovative technologies The Sandbox is bringing to Metaverse?

Decentralized Virtual Gaming – It is a virtual Metaverse in which users play, develop, and control their gaming experiences while also monetizing those experiences using the Ethereum blockchain. It enables gamers to generate their digital assets (NFTs), then upload them to a marketplace and incorporate them into games using Game Maker. NFTs or plots of LAND are a component of the Sandbox metaverse. They not only offer the opportunity to monetize a portion of the Sandbox metaverse but also give access to exclusive material. These exchanges are done with the digital currency token known as $SAND. (Source)(Source)(Source)

“For us, metaverse is really this myriad of worlds that users can experience through an avatar that becomes a 3D representation of themselves. All sorts of new experiences … more creative, more immersive, unlike what we’ve seen before with traditional virtual worlds, where users can already socialize … here, what’s important is the ability of users to truly own their own identity, own their own belongings, digital assets, virtual land, houses … and are able to move that identity from one world to another without being constrained.” Sebastien Borget, Co-Founder and COO, The Sandbox.

What are the Acquisitions and Collaborations done by The Sandbox?

In 2020, The Sandbox collaborated with The Smurfs to create Virtual Smurfs Village Land and offer NFTs Digital Assets to its Creators Community. As per the terms of the partnership, the Sandbox gamers would be able to socialize in a virtual Smurf Village virtual land, play adventure games with their favorite characters from the IP, and purchase Smurfs-themed in-game content to use for creating their own Smurfs games and worlds. (Source)

In 2022, The Sandbox acquired Cualit, a full-stack development technology company to strengthen its Web3 and blockchain innovation and development capabilities. Cualit will be renamed The Sandbox Uruguay, strengthening The Sandbox’s global team and accelerating the expansion of its metaverse ecosystem. (Source)

“Web3 technology is rapidly evolving and we believe The Sandbox Uruguay will help us to onboard millions of users through their expertise in web design and user flow.”Arthur Madrid, CEO, and Co-Founder of The Sandbox.

In 2022, The Sandbox partnered with Chain Games for the development of a unique and engaging user experience through the use of innovative blockchain technology developed by both parties. As per the terms of the partnership, the users can experience cross-platform interoperable NFT in-game assets in the Chain Games and The Sandbox ecosystems. (Source)

The Smurfs To Be Part Of The Upcoming The Sandbox LAND Presale

17. Improbable

HQUnited Kingdom
Total Funding Amount$604.1 Million
Top InvestorsAndreesen Horowitz, SoftBank Vision Fund, Horizons Ventures, Amadeus Capital Partners, NetEase
Innovative TechDevelops interoperable Web3 metaverses network, driven by Morpheus technology.

Which Innovative technologies Improbable is bringing to Metaverse?

M² by Morpheus Technology – The firm is focused on establishing and developing M² (MSquared), which will be an interoperable Web3 metaverses network, driven by its Morpheus technology. M² will merge the technology of Morpheus with new services that are aimed to facilitate interoperability, trade in digital assets, and governance in Web3. It will allow enterprises, fans, and communities to connect in dense virtual places with high loyalty in the fields of sports, music, fashion, and entertainment. (Source)

“A good example of what Morpheus solves is the infamous ‘Metaverse Sniper Problem’. When you zoom in through the scope of a sniper rifle, you need to be able to see an area of the world far away in high fidelity to be able to get an accurate shot. This is difficult in traditional games with 60-100 players as the networking requirements of the architecture scale quadratically: a 200-player game has 4x the networking requirements of a 100-player game. Therefore to power metaverse experiences with 10,000s of players, you need a fundamental step change of technology.” – Rob Whitehead, Chief Product Officer, Improbable.

What are the Acquisitions and Collaborations done by Improbable?

In 2016, Improbable partnered with Google to allow game developers to utilize their technology to create virtual worlds. Google and Improbable partnered to provide qualified developers with access to Improbable’s SpatialOS platform, a distributed operating system powered by the Google Cloud Platform that enabled the creation of persistent online gaming environments. (Source)(Source)

“The future of gaming lies in the cloud, this partnership is an opportunity for us to help developers to take full advantage of the new possibilities enabled by SpatialOS combined with the unique abilities of Google Cloud Platform . . . and just the beginning of our work together to support game development and beyond.”Nan Boden, Google’s Global Head of Technology Partnerships.

In 2020, Improbable acquired Zeuz, a managed hosting firm. The inclusion of Zeuz in Improbable’s multiplayer products and services aimed to contribute to the company’s mission of making online game creation more efficient and accessible to developers working on any type of multiplayer game. The acquisition also intended to expand the company’s cost-effective hybrid cloud architecture to reach new markets and combine its offering with Improbable’s networking, co-creation, and game development businesses. (Source)

In 2021, Improbable partnered with Microsoft’s Defense and Intelligence business to help governments improve their national security outcomes. The collaboration intended to transform governments’ and solution providers’ capabilities to create multi-domain synthetic environments for defense and national security. The company’s synthetic environment platform allowed organizations to research, plan, and train in realistic virtual worlds before acting in the real world. (Source)

What are the Awards and Recognition received by Improbable?

Improbable won the title of “Company of the Year 2017” by the Cambridge Computer Lab Ring. (Source)

18. AllSeated

HQUnited States
Total Funding Amount$23.4 Million
Top InvestorsMagma Venture Partners, Liquidity
Innovative TechOffers a 3D metaverse platform for the events industry.

Which Innovative technologies AllSeated is bringing to Metaverse?

3D Virtual Reality for the Events Industry – Through its 3D metaverse platform, AllSeated is revolutionizing how industry experts attend industry events. The company is presenting a unique dimension to virtual events, allowing for engagement between in-person and virtual participants. With the help of AllSeated’s EXVO, a 3D Metaverse platform, it is now feasible to carry out activities within virtual locations that would typically take place in a physical exhibition setting. 

The experience of being on an exhibition floor is replicated by the use of an immersive, 3D space environment, which also enables personal communication by using video conferencing. Additionally, the company has introduced MeetaverseTM, a metaverse designed specifically for corporate businesses that encourage commuting and cooperation in digital workstations in order to assist teams that perform their job remotely. (Source)(Source)

“The ways in which we work and play have changed forever, and the metaverse will significantly disrupt how people and brands interact and engage. Almost every CMO and HR leader we talk to is looking for ways to harness the power of the metaverse, and to drive new engagement paradigms with their customers, employees and partners. New use cases and opportunities are rapidly forming and the possibilities are endless.” Yaron Lipshitz, CEO, Allseated.

Allseated – EXVO

What are the Acquisitions and Collaborations done by AllSeated?

In 2018, AllSeated partnered with Tripleseat, a web-based event sales, and management platform, to provide venue planners with access to 3D floor plans and seating arrangements. The collaboration aimed to provide customers the benefit of Tripleseat’s event management features, as well as seamless access to 3D and VR floor planning, guest list management, and seating arrangement, saving time and travel, allowing for easier planning, and booking process. (Source)

“Our goal is to improve the visibility and closing rates of the venues we work with through the help of VR technology, We’re excited to partner with Tripleseat to allow event planners the opportunity to view venue floorplans in 3D and VR, and get a better idea of what locations look like before booking.”Sandy Hammer, CMO, and Co-Founder, AllSeated.

In 2020, Allseated collaborated with Event Temple, a cloud-based Hotel and Venue Sales and Catering software company to improve and simplify user processes and usability through API integration. (Source)

In 2021, Allseated acquired easyRAUM in order to accelerate its rapid expansion into the European market. The acquisition aimed to expand Allseated’s market footprint by offering the full power of its event technology platforms to venues, brands, corporations, and event planners throughout Europe. (Source)

What are the Awards and Recognition received by AllSeated?

  • DotCom Magazine recognized AllSeated as the 2022 Impact Company of the Year. (Source)
  • At the Event Technology Awards 2021, Allseated EXVO was honored with two awards under the category of Best New Event Technology Product and Best Virtual Event Platform (under 1,000 attendees). (Source)

19. H2L

Total Funding Amount$1.3 Million
Top InvestorsKickstarter
Innovative TechEnables users to experience actual physical pain.

Which Innovative technologies H2L is bringing to Metaverse?

Feel Senses in Metaverse – H2L is placing its bets on the fact that it will be able to cause individuals in the metaverse to experience actual physical pain. H2L has developed a device that consists of a wristband that can detect the flexing of human muscles. This will allow the user’s avatar in the metaverse to replicate the body’s motions, and users will be able to feel the existence and weight of items. The technique makes use of electrical stimulation to perform manipulations on the arm muscles and simulate a variety of experiences. (Source)

“Feeling pain enables us to turn the metaverse world into a real [world], with increased feelings of presence and immersion.” – Emi Tamaki, CEO, and Co-founder, H2L.

H2L’s Technology Replicates The Sensation Of Touch By Using Electrical Stimulation To Manipulate The Arm Muscles And Mimic Sensations

What are the Acquisitions and Collaborations done by H2L?

In 2017, along with NEDO, H2L established a new inter-company cooperation support system. It was filed in the name of Sony Corporation. Under the theme “Practical development of gesture recognition by optical multi-muscle group displacement detection”, H2L successfully invented a device in the form of a bracelet that can identify gestures by measuring finger motions from forearm muscles. It was achieved by using a muscle displacement detection approach employing an optical sensor to several muscle groups. (Source)(Source)

In 2019, H2L and NTT Docomo Inc (Docomo) teamed up to create new services and use cases by merging BodySharing and 5G technologies. H2L and Docomo aimed to produce VR material that enables users to experience tourism in faraway locations by actively engaging their bodies. (Source)

In 2021, H2L and PwC Foundation collaborated to build a system called RaraaS. This technology allows users to control robots in remote places using a smartphone and engage in agricultural activities. In the coming years, RaraaS plans to implement a system that includes H2L’s Body Sharing technology, where the system communicates work to the robot such as fine finger motions and the use of force and transmits back to the user the weight of the fruit that is being handled by the robot. (Source)

What are the Awards and Recognition received by H2L?

The Going-Global Innovations Competition 2018 awarded H2L the first prize under the category of Product / Technology (Venture Technologies). (Source)

20. Somnium Space

HQCzech Republic
Total Funding Amount$1.8 Million
Top InvestorsGemini Frontier Fund
Innovative TechVR-game metaverse allowing gamers to trade NFT-based gaming assets.

Which Innovative technologies Somnium Space is bringing to Metaverse?

Open-Source Metaverse Platform – It is an Ethereum-based VR-game metaverse that lets gamers trade NFT-based gaming assets employing its ERC-20 token CUBE. With the Ethereum blockchain, it offers users the ability to tokenize their in-game assets such as land, wearables, avatars, etc. Gamers can participate in the experience using either a downloading VR client or a browser-based version that operates in the same manner as any other online application. (Source)(Source)

Somnium Space in VR Mode

What are the Acquisitions and Collaborations done by Somnium Space?

In 2018, Somnium Space acquired Community Garden, a social VR app. Somnium Space intended to introduce additional new features to its online persistent VR world by combining creative brains from both companies. (Source)

In 2020, MAXIMA partnered with Somnium Space to provide the general public with Virtual Reality Estate services. MAXIMA intended to provide services such as renting Somnium Space VR parcels, on-demand professional architectural services for VR landowners, and brokerage services linking premium buyers and sellers inside the Somnium metaverse through the partnership. (Source)

In 2021, Somnium Space partnered with TESLASUIT, a full-body haptic feedback platform, to provide sensory sensations to the Somnium VR platform. The TESLASUIT was made accessible for use within the Somnium Space Community and Somnium Space auctioned off 10 Teslasuit Founder Editions during the Road2TLO as a result of the partnership. (Source)(Source)

21. Hyperlink InfoSystem

Innovative TechBuilds Metaverse solutions for project requirements.

Which Innovative technologies Hyperlink Infosystem is bringing to Metaverse?

Metaverse Solution for Projects – Hyperlink InfoSystem builds Metaverse solutions that are tailored to the needs of the project. They build the Metaverse platform with a variety of technologies such as Blockchain, AR/VR, NFT, and many more. They contribute to the development of a digital presence by use of Metaverse and virtual networking and assist in the development of a decentralized space, blockchain-specific metaverse applications, 3D spaces development, metaverse marketplace, social media platform, NFT trading platform, etc. (Source)(Source)

What are the Acquisitions and Collaborations done by Hyperlink Infosystem?

In 2022, Hyperlink InfoSystem collaborated with GAFA to develop the first prototype of the GAFALA game. In the first phase, users will play and earn tokens. In the next phase, an API will be released for developers to incorporate GAFA Token into their games and systems. In the third phase, GAFAVERSE, users can govern their area at GAFAVERSE, and landowners can regulate what content is released and sell NFTs. (Source)(Source)(Source)

What are Awards received by Hyperlink Infosystem?

  • The Gujarat Icons 2020 recognized Hyperlink InfoSystem for its outstanding achievement in Information Technology and App Development. (Source)
  • Clutch.co ranked Hyperlink InfoSystem as Top App Development Companies for 2020, 2018, 2017, and 2016. (Source)(Source)
  • Hyperlink InfoSystem was named Top Mobile Game Developers 2019 by Clutch.co. (Source)

22. Colorverse

HQSouth Korea
Total Funding Amount
Top Investors
Innovative TechOffers users s 3D virtual space metaverse service to design their own spaces and play games

Which Innovative technologies Betterverse is bringing to Colorverse?

3D Virtual Space Metaverse – Colorverse is a 3D virtual space metaverse service available on both mobile devices and PCs. It allows people to design their own spaces and play games. It accomplishes this by employing blockchain technology, 3D space creators, and community builders. On Colorverse, users can also interact with each other based on their hobbies, and they have the opportunity to generate money by contributing content to the platform. (Source)(Source)(Source)

Colorverse 3D Network Service

What are the Acquisitions and Collaborations done by Colorverse?

In 2022, Kakao Games announced that its company Neptune will team up with Colorverse to create “Colorverse”, a virtual space platform. According to Kakao, users of Colorverse would be able to interact with others on the platform depending on their hobbies, and they will even have the opportunity to earn money by providing content for the platform. (Source)

“We believe that Kakao’s current [communication] services, which center around online communication between offline acquaintances, are not enough for global expansion. That is why we are expanding the KakaoTalk service from acquaintance-based communication to interest-based community networking. And we named this world Kakao Universe, where people are connected based on their passion. If Kakao Universe becomes a widely-used service that connects people from all across the globe based on their interests, we will be able to realize our vision of ‘Beyond Korea’ in the long term.” Namkoong Whon, CEO, Kakao.


Metaverse is still in its infancy and the domain already has an invasion of big tech companies. But the scope of the technology creates opportunities for other players and startups as well. There are still challenges that Metaverse is facing. And we found that not big companies but even startups and universities are working on the solutions. 

There is a lot going on in the domain right now. Mergers and Acquisitions are going on to strengthen the position or to take an upper edge in the market. 

If you are interested in more information related to Metaverse i.e. competitive analysis, particular challenge, and solution, Metaverse startups scouting, trend analysis, etc. be sure to reach us by filling out the form below. 


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