Infinite Reality raises $3B to boost its immersive tech portfolio

Infinite truth announced today that it has raised $3 billion in funding from a private investor, which it plans to use towards expanding its immersive technology and its many initiatives such as -Yes. According to the company, it also puts the valuation at $ 12.25 billion. The investor, who remains unnamed, is said to focus on technology and global real estate investments.

The company reports that it plans to use the investment to continue on its current path, which has seen it make significant collaborations and acquisitions, such as the their deal with Google Cloud and the purchase of Landvault (now iR Enterprise). It also plans to continue feature development on its iR Studio, a no-code solution for creating immersive reality products; and continue the work in the city of Fort Lauderdale, Florida.

John Acunto, CEO of Infinite Reality, said in a statement, “This fundraising will allow us to continue to invest in our customers as they strive to be active participants in today's technological advancements …. In our world, brands and creators are not just partners but true architects of the digital future, with complete control over their customer relationships and data. This strategy requires investment in exceptional talent, advanced technology, and most importantly, an unwavering commitment to our customers.”

Amish Shah, Infinite Reality CBO, said, “This transaction is in the form of pure equity, and no debt or restrictive covenants have been entered into. The investor reviewed many opportunities but ultimately bet on our vision, mission, strategy and team. This represents not only a vote of confidence but it gives us the firepower to grow at a rapid pace through continuous innovation, profitable acquisitions, and global go-to-market operations. The unique nature of this partnership gives us full freedom to execute our vision exactly as intended.”