Infinite Reality raises $350M and acquires Landvault for $450M

Infinite Reality, the company working on metaverse-like technologies, has raised $350 million and acquired Roblox game developer Landvault for $450 million.

The deal shows how much financial velocity Infinite Reality has gathered, as its valuation has now advanced to $5.1 billion as the company focuses on immersive platform and enterprise service technologies.

So far this year, New York-based Infinite Reality has spent more than $800 million in stock on previous acquisitions including the purchase of The Drone Racing League ($250 million), Ethereal Engine ($75 million), Action Face ($10 million) and Stakes ($8 million).  

Infinite Reality said it raised its $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. Infinite Reality has about 140 employees, while Landvault has just 36.

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One of LandVault's metaverse experiences for hospitality.
One of LandVault’s metaverse experiences for hospitality.

This investment, entirely in equity and not debt, is new and separate from Infinite Reality’s goal to complete the previously announced SPAC transaction. The $350 million will be deployed immediately to accelerate growth as the company sees a massive opportunity in this area.

Additionally, Infinite Reality announced the $450 million acquisition of Landvault, a tech company specializing in immersive technology and digital twins for Fortune 500 companies and government organizations. Landvault does not build in platforms. It builds whitelabel experiences for the web (3D websites) that can be integrated with any client website, which is aligned with Infinite Reality’s vision as well. Landvault does not believe the “metaverse” is a destination, but more an evolution of the internet into a more dynamic, engaging medium.

This all-stock transaction solidifies Infinite Reality’s foundation to lead the revolution in immersive digital environments. The proceeds from the significant investment and the integration of Landvault’s cutting-edge tools and expertise in crafting high-fidelity virtual worlds support Infinite Reality’s aim to be the leader in delivering innovative spatial computing and AI-powered capabilities that empower brands to better engage and monetize their audiences.

Sam Huber is CEO of LandVault.
Sam Huber is CEO of LandVault.

As immersive experiences and artificial intelligence continue to reshape industries, Landvault stands at the forefront of driving technological advancements. The company’s suite of tools and infrastructure enable the creation, local domain hosting, measurement, and monetization of immersive experiences, accelerating the growth and scalability of the 3-D internet while putting more data in the hands of businesses.

An established industry trailblazer, the company has built over 1.2 million square feet in virtual experiences for countless high-profile brands including Mastercard, Standard Chartered, Hershey, and more.

Landvault’s portfolio includes award-winning projects such as their work with Dentsu on the Cannes Lion-winning campaign created for Heineken, showcasing the company’s ability to blend creativity with emerging technology.

Other notable collaborations include projects with Hershey in Decentraland, the World of Women experience in The Sandbox, as well as upcoming high-profile projects and partnerships in the Middle East, including initiatives with the UAE and Saudi Government, local tourism boards and real estate companies.

“Now, 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, CEO of Infinite Reality, in a statement. “Adding Landvault, with their substantial presence in the Middle East and Europe, supports our plans for market expansion and helps establish the Infinite Reality brand as a global leader in immersive tech. We look forward to integrating Landvault’s hundreds of clients into the Infinite Reality family, further enhancing our reach and capabilities.”

Following the acquisition, Landvault’s existing employees and creative teams will join the Infinite Reality team, ensuring continuity and the retention of top talent. Landvault’s presence across the Middle East will also remain operational, expanding iR’s global footprint and supporting ongoing projects and client relationships.

Sam Huber, CEO of Landvault, will take on the new role of global president of enterprise and CEO of MENA Region (Middle East and Northern Africa), further strengthening Infinite Reality’s presence and strategic initiatives in the region.

As Infinite Reality continues its go-public strategy in the U.S., the company’s newly expanded global structure also paves a path towards additional capital markets initiatives, including in Europe and the Middle East.

“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 Huber, in a statement. “Together, we will continue to push the boundaries of what is possible today, creating unparalleled experiences for business and consumers worldwide.”

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 over their hosting and data.

Infinite Reality is going public through a SPAC.
Infinite Reality is still planning on going public through a SPAC.

Additionally, Landvault provides a comprehensive monetization SDK including in-game advertising and ecommerce modules to drive revenue from their immersive experiences. These capabilities have been pivotal in establishing Landvault as a category-defining company in the space, enabling clients to build, deploy, and monetize high-fidelity digital experiences efficiently.

“With this $350 million fundraise and Landvault’s impressive project pipeline, we are more bullish than ever about the future of our business,” said Amish Shah, chief business officer of Infinite Reality, in a statement. “The funding gives iR further ammunition to continue to make bold investments and pursue our ongoing strategy.”

I asked why Infinite Reality is moving so quickly. The company said it wants to “capitalize on significant market opportunities as the sector is on fire. The recent $350 million equity investment, separate from our SPAC plans, provides financial flexibility and robust capitalization. Our recent strategic acquisitions, now with LandVault and previously with companies such as Drone Racing League and Ethereal Engine, expand our capabilities and market reach. We have always had a 10-year plan and are now executing on it with our M&A strategy.”

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