Alta secures $12.4 million in funding

Alta managed to raise $12.4 million in funding to realize its future plans.
Alta funding
Alta received an funding of 12.4 million dollars.

Metaverse platform Alta has raised another $12.4 million in funding for early 2022. With this new capital contribution, the company reached a total valuation of $62 million. The funding round was initially led by both the Makers Fund and Andreessen Horowitz but later found support from the Pioneer Fund, Boost VC, Thomas Rice, and more.

With this new investment, Alta aims to expand its networks and establish new networks among its metaverse virtual worlds. In essence, the team’s emphasis on production will enable to host of large volumes of assets and content in the virtual world without straining the underlying system.

The company will need more funding to build a large staff by establishing physical offices in Australia, the United States, and possibly Europe and Asia.

Speaking to TechCrunch about the investment round, Andrew Chen of a16z noted that Alta’s technical prowess, as well as a passion for metaverse projects, make him an ideal company to invest in.

“Over the last two years, in particular, we’ve seen VR adoption increasing while the metaverse grows and are excited to partner with Alta as they continue serving and growing this community.”

Founded in 2016, Alta managed to stand out with A Township Tale, an open-world RPG developed for the VR platform. After the game was released on the Oculus Quest 2 platform and attracted attention, the company had more than 500,000 active users.

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