The award-winning leader in XR wellness offering immersive experiences for mind-body health, Tripp, has raised $11.2 million in new Series A funding.
The round was led by San Francisco-based BITKRAFT Ventures and saw participation from the Amazon Alexa Fund, Qualcomm, HTC, Niantic, and an existing investor, Mayfield. The funding extends the company’s previously raised $11 million Series A round last year. It brings the total capital raised to date to over $26 million.
Tripp also announced the acquisition of Eden, a VR-based world-building platform and a digital social hub developed by video game creator Bearded Eye. The company has recently been on an acquisition spree, recently taking possession of EvolVR, a VR platform that enables people to mediate together using avatars, in February.
Eden would enable Tripp to create a premium live program offering for its growing mindfulness community. It can eventually expand to allow the community members to develop and offer their own experiences to the rest of the community, as mentioned by Tripp co-founder Nanea Reeves.
Tripp was launched as a VR platform in 2018 to enable people to mediate while looking at immersive, psychedelic visuals, such as pulsating trees and rippling sand dunes. The company has since spread its wings to experiment with virtual, communal meditation. In November last year, it partnered with Niantic to expand its platform with a new augmented reality offering, enabling its users to interact and meditate together.
“Our main focus is currently on scaling our consumer offering at this stage in our company life cycle, but we have ongoing research initiatives in the categories of substance use disorder, anxiety reduction, PTSD, and ADHD,” said Reeves.
The company’s foray into these categories could open up several doors of opportunities. Digital therapeutics is a rapidly growing domain, set to rise in popularity with the development and adoption of the metaverse.
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