Metaverse startup raises fresh funding from Oculus investors to make “immersive 3D environments” more accessible
Challau, the metaverse platform which enables users without a VR headset or high-end computer to enter “immersive 3D environments”, has raised a pre-seed round from London based 7percent Ventures, whose team first backed Oculus VR.
Challau’s platform, which offers immersive 3D environments accessible on all internet-enabled devices without the need for downloading software, raised over $500k (approx. £393k).
Already since its beta launch, more than 20,000 Metaverse user sessions have taken place, and the platform has experienced 28 per cent week-on-week growth in user numbers most recently. More than 3,800 unique virtual 3D worlds have already been created by users on the Challau platform.
In December 2021, Forbes reported that the metaverse is a $1trn opportunity for investors and likely to fundamentally reimagine the scope and use of the internet in coming years.
The platform allows users to easily create their own 3D virtual world and up to 25 people can concurrently engage within each 3D environment supported by full body avatars, spatial audio, real-time high quality web graphics, avatar audio lip-sync and micro-expressions.
Nearly 200 college campuses, 400 offices, and over 3,000 residential properties have been established on Challau. The platform is said to be delivering “immense value” to people looking to get their first foothold on virtual properties in the Metaverse.
Founder and CEO Muhammad Zain Khawaja said: “We are delighted to have the support of 7percent Ventures, a fund and team with an impressive track record of supporting the most innovative, futuristic and groundbreaking technologies.
“7percent were the first investors in Oculus and have the best possible track record to understand and support Challau in its development – they really understand what this space is all about”
7percent Founding Partner Andrew J Scott added: “Challau provides access to a frictionless metaverse environment, without the usability or device spec barriers to entry which 3D worlds have. The team has built some fantastic inhouse technology and users love the product. We’re excited to be on the journey with the Challau team.”