Augmented reality startup Infinite Reality announced on Wednesday that it has raised $3 billion in a new funding round, bringing its valuation to $12.25 billion. The company did not disclose the identities of the investors involved but mentioned that the funds came from a “private investor whose portfolio focuses on global technology and real estate investments.”
Founded in 2019, Infinite Reality had previously attempted to go public via a special purpose acquisition company (SPAC), Newbury Street Acquisition, but the listing did not materialize. The company leverages immersive technologies to offer a range of services designed to enhance audience engagement and monetization for brands and creators.
Past backers of Infinite Reality include well-known companies like Live Nation, T-Mobile Ventures, RSE Ventures, and Lux Capital.
