Former Twitter India head Manish Maheshwari's ed- tech platform Invact Metaversity has raised a first round of funding at a valuation of $33 million from Future Group's Kishore Biyani, ex-Infosys director TV Mohandas Pai, Innov8 founder Ritesh Malik and former Facebook MD Kirthiga Reddy among others.
While Maheshwari did not disclose the fund raised by the immersive virtual education learning startup from 70 global entrepreneurs, he said he diluted less than 15 percent equity.
"We will use the capital primarily for building the platform, hiring engineers, illustrators and 3D designers. The first batch will start in May with 60 students. It will be a four months business foundation MBA,” Maheshwari told Moneycontrol on February 7.
Leaders from global companies such as Microsoft, Facebook parent Meta, Coinbase, Google, Twitter, Uber, Amazon, Softbank, Spotify, GoJek, LinkedIn, and Disney also participated in the funding round, Maheshwari said without sharing the names.