AvatarLife, a gaming platform for the metaverse, has raised $1.5 million in a seed funding round led by Info Edge Ventures, the investment division of Info Edge India Ltd., the company that owns Naukari.com.
After the augmented reality-based toymaker Mirana and the fantasy esports platform Fanclash, this is Info Edge Venture’s third investment in the gaming industry.
According to a press release from AvatarLife, the money will be used for product research and development, community development, and the expansion of its international team.
Sushant Chandrasekar and Gaurav Gupta founded AvatarLife together in 2022. Its virtual world features single-player, multiplayer, and play-to-earn skill-based games. It also permits game development and operation on its platform by other creators.The business is working to create 3D mobile products for users in India. According to the business, it provides more than 25 games through three operators.
Kratos Studios, a Web3 gaming startup, raised Rs 160 crore in February as part of a seed round that was led by Accel Partners and included Prosus Ventures, Courtside Ventures, Nexus Venture Partners, and Nazara Technologies.
It is in direct or indirect competition with Zepeto, Roblox, Minecraft, The Sandbox, and other games.
