Union Avatars has just raised €1.2 million in a fundraising round led by Inverady Y FI Group.
A list of private investors has been included in the company's capital raising since its inception, giving the company credibility and seniority for its long history in the field of innovation and entrepreneurship. The funds raised will be used primarily for product development, international expansion, and talent.
Union Avatars, founded in 2020 by Cai Felip and Jordi Conejero, was born from the desire to link the real world with the new digital worlds that have come to be known as the Metaverse. Now, the company is taking a new step towards web3, that is, the integration of said avatars for the metaverse integrated into the blockchain.
Felip has been in the blockchain industry since 2014, long before the term "metaverse" became a household name. According to Union Avatars' founder, "the main goal is to have an avatar that is like the passport to any metaverse, and this is possible thanks to this new integration with web3".
UnionID, a digital identity initiative based in Barcelona, will be developed which will allow users to access many platforms without exposing their data and while maintaining absolute privacy. Imagine that you can wear your favorite virtual shirt from one place to another, without anyone knowing or selling your information.
The current team at Linking Realities is made up of 22 people, with over 30 clients throughout the world. The main pain is the metaverse, hence the business is mostly B2B, although with the integration into web3 and the UnionID project, the goal is to focus on the end user.
The founders anticipate a second round of financing in 2023 to continue to grow in this young world. Jean Clauteaux, L'Oreal's former CEO and zone manager; Simonetta Lulli, former Vice President of Habbo; Fraser Edwards, CEO of Cheqd or Carles Reina, who has served in companies such as Uber, Sonantic or Tractable