Former Twitter India Head Manish Maheswari’s ed-tech platform Invact Metaversity has raised the very first round of funding of $33 Mn from Kishore Biyani of Future Group, ex-Infosys Director T. V Mohandas Pai, Innov8 Founder Ritesh Malik and the former Facebook MD Kirthiga Reddy along with some others.
According to a report carried out by Moneycontrol, Maheswari noted that he diluted less than 15% equity.
To the publication, Maheswari said that the capital will be used to further develop the platform and hire for a bunch of functions which will be primarily engineers, illustrators and 3D designers.
“The first batch will start in May with 60 students. It will be a four months business foundation MBA," said Maheswari.
Metaversity aims to majorly offer innovation in a virtual experience, virtual identity and virtual assets, to the students. Through the platform, the students will also be able to communicate with their teachers using animated characters regardless of their location. The latest learning solution is going to be the new edge education system which will also enable students to build virtual communities that will, in turn, help them participate in group discussions.
Maheswari told Moneycontrol that the company aims at providing the true virtual experience and not just the video calling facilities for the remote education system. He said, “The technology has become so advanced, you can bring an immersive experience of being outside your classroom, sitting in a cafeteria. How powerful would that be.”