TRIPP Announces $11.2M in Funding from BITKRAFT, Qualcomm, Amazon Alexa Fund, HTC, Niantic, and Mayfield to Scale the Mindful Metaverse
- Funding will be used to meet growing global demand for mental wellbeing through TRIPP’s unique (XR) wellness accessible through AR, VR and mobile
- Company also announces acquisition of Eden which will enable users to further customize their TRIPP experience, explore digital realities and meet other people
- The new round brings TRIPP’s total funding to $26.3M
TRIPP, the company building the mindful metaverse, today announced an $11.2M investment led by BITKRAFT Ventures, with participation from Qualcomm, Amazon Alexa Fund, HTC, Niantic and existing investor Mayfield totaling $26.3M to date. The funds will be used to expand its team in building impactful technologies that facilitate wellbeing in the metaverse. TRIPP is also announcing its acquisition of worldbuilding platform Eden from BeardedEye, creators of the popular Galactic Gallery VR experience. The launch of Eden on TRIPP’s platform will be a major step towards building safe, community-driven experiences in the mindful metaverse.
The fresh funding comes at a time when access to mental healthcare is in more demand than ever: the pandemic triggered a 25% increase in anxiety and depression worldwide, with resources increasingly strained. TRIPP’s digital support tools – designed to help TRIPP users take control of their mental wellbeing through meditative experiences – are available through convenient access points like AR, VR, and mobile.
“With over one billion people globally suffering from depression, anxiety, or stress, we’re hopeful that innovations like TRIPP can be a part of the solution,” said Moritz Baier-Lentz, partner at BITKRAFT Ventures. “Beyond a great product that is already a leader in its category, there was a lot to like about what Nanea and the TRIPP team have built. It’s rare to find such a combination of authentic founder-market fit, operational excellence, and an exciting vision with many avenues for future growth.”
“TRIPP’s innovative platform highlights the unique magic of VR to support people’s mindfulness worldwide, and represents an important step towards normalizing the broader discussion around technology’s role in mental health,” said Pearly Chen, Vice President at HTC VIVE. “We’re proud to be part of their journey as we work together to build out the mindful metaverse and help people everywhere foster a deeper connection with themselves.”
TRIPP’s acquisition of Eden’s cross-service world-building technology marks a major milestone in pioneering the mindful metaverse as a safe space for users to connect and support each other’s emotional and mental wellbeing. The acquisition will enable users to further customize their TRIPP experience, explore artworks and soundscapes while connecting with users from across the globe.
“We’re grateful that more and more investors are recognizing the need for innovative wellness tools that expand beyond traditional meditation apps,” said Nanea Reeves, founder and CEO of TRIPP. “Through our acquisition of Eden, we’re one step closer to truly building a mindful metaverse and establishing a safe space for transformative experiences in digital realities while also empowering creators to join us in our mission.”
Eden marks TRIPP’s third acquisition, and second this year, following the acquisition of the largest VR live meditation community EvolVR in January. This latest funding round includes investment from Qualcomm (Waze, Zoom), Niantic (Pokémon Go), HTC and Amazon Alexa Fund to existing high-profile shareholders like Mayfield (Tonal); with an emphasis on gaming, Web3 and immersive technology visionaries. The announcement comes on the heels of TRIPP’s newly revamped mobile app and collaboration with Luminance to develop next generation wellness experiences as NFTs.
For more information visit tripp.com
