Infinite Reality (iR) has announced a $350 million minority investment from a private multi-family office focused on global technology, media and real estate, elevating the Company’s valuation to $5.1 billion.
This investment, entirely in equity and not debt, is new and separate from iR’s goal to complete the previously announced SPAC transaction. The $350 million will be deployed immediately to accelerate growth.
Additionally, iR announced the $450 million acquisition of Landvault, a tech company specializing in immersive technology and digital twins for Fortune 500 companies and government organizations.
“Having joined forces with Landvault and secured this $350 million fundraise, we possess robust capitalization, financial flexibility, and a fortified position from which to successfully execute our global go-to-market strategy,” said John Acunto, co-founder and CEO, Infinite Reality.
Following the acquisition, Landvault’s existing employees and creative teams will join the iR team, ensuring continuity and the retention of top talent.
“Joining forces with Infinite Reality allows us to leverage their extensive resources and expertise to scale our vision to build the future of the internet even further,” said Sam Huber, Founder and CEO, Landvault.
The acquisition also includes Landvault’s innovative tools, such as the ability to offer local and custom hosting solutions to its clients, empowering business owners to capture and manage unique first party data and giving them direct control.
