The Angers-based startup, which specialises in supporting brands in virtual worlds, has completed its first round of financing with both French and international investors. Metav.rs intends to accelerate its internationalisation and intensify recruitment.
For many years now the metaverse has fascinated the world, especially since Facebook became known as Meta. More and more brands, especially in the fashion and retail sectors, want to develop their presence in the virtual world.
The metaverse market could be worth $5 trillion by 2030, according to a study by the consulting firm McKinsey. Aware of this potential, the founders of Metav.rs have created an agency that aims to guide brands into these emerging worlds.
€3 million to become a major player in the metaverse
Metav.rs develops solutions that allow brands to manage their own metaverse and sell NFT-type dematerialised assets or digital identities. It counts ten clients, of which are major international accounts from the luxury and retail sectors. Founded in January 2022, the company’s headquarters are based in Angers, there are also branches in Paris and Vierzon, as well as offices in Hong Kong and Seoul.
The startup has completed a round of financing of €3 million that will enable it to boost its development abroad. For this first round, Metav.rs relied on Singapore’s Jsquare fund, Studio, the fund of French company Sia Partners, and several business angels who are experts in Web3.
A promising market
The virtual worlds market is still in its infancy. To position itself as a market leader, Metav.rs has had to recruit and surround itself with employees with very specific profiles.
This first round of funding should allow the startup to grow from 20 to 40 employees in the next 6 months and to open an office in Singapore, South East Asia. Within a year, Metav.rs aims to have 60 employees.