Published on: 18/03/2022
Metaverse startup Oorbit raises $5 Million, investors include Mark Cuban, Deadmau5, HOF Capital
London-based Metaverse platform Oorbit yesterday announced that they raised $5 million in their seed round funding. Among the investors were billionaire entrepreneur Mark Cuban, Deadmau5’s Pixelynx, and HOF Capital.
The startup said they planned to launch their service “in late 2022″. The startup said that it “has developed the only infrastructure that unites metaverse experiences and worlds into one place, removing barriers to entry”.
Oorbit dubs itself as an “arcade platform with blockchain-enabled AAA-quality games”. Adding that they are “the first and biggest doorway to metaverse content – a whole new way to discover, and experience virtual games, entertainment, events, creative spaces, and much more”.
Oorbit seemed to be ready to provide a platform of blockchain-based parameters, including full marketplaces, interactive media, video games, and digital live events, among others.
“With more details to come, Oorbit will be accessible in one easy-to-navigate platform on the types of screens users already own,” Oorbit said in their press release made public on PR Newswire. Meanwhile, their single-page website currently displays only gameplay footage from multiple titles with an overlaid text asking visitors, “What if you could instantly travel between many worlds?”
Oorbit’s promising prospect also attracted Shark Tank star Cuban. The billionaire is known for having cryptocurrency and blockchain making up 80 percent of his total investments. It also attracted deadmau5, a hardcore believer of the futures of NFTs and Web3.
Commenting on the raise in a statement, Cuban, who also supported The Chainsmokers’ venture fund in 2020, said: “As the metaverse moves from our imaginations into actual entertainment, experiences and products, Oorbit’s founders have created an innovative platform where developers, publishers and brands can create and more easily deliver their most compelling work.
“Best of all, and core to their plan, Oorbit has put the user at the center of their technology so they enable games and even worlds that will delight all comers, and blaze a path for metaverse growth overall.”
Oorbit to play role in Web3, metaverse
Meanwhile, speaking on his part, Oorbit co-founder and CEO Ash Koosha, who describes Oorbit as a “transport protocol for Metaverse developers and users” and “an Event-Based Cloud Gaming platform for developers of virtual worlds and cloud games”, said:
“Oorbit is demystifying the major technologies that will play the biggest role in the growth of Web3 and the metaverse; blockchain, cloud streaming, NFTs, fintech and more.
“We are combining the best parts of these complex technologies to enable episodic entertainment that is not just incredible but also approachable, for all audiences. This round of funding will support growth and platform expansion.”
Oorbit’s promises of “No Installation, No Downloads, Daily Updates, [and] Exhilarating Content” clearly indicate that it will focus on cloud gaming. Koosha itself is known for his vocal support of cloud games. With the integration of this tech in Oorbit, his platform is a potential metaverse hotspot. Those interested in the platform can register on their website, Oorbit.tv.
“Really hyped to partner with the incredible team at Oorbit. Ash Koosha is a genius,” Pixelynx CEO Inder Phull said. “They have built a powerful technology that will make it easy for anyone to access AAA gaming experiences through any device. Excited to show what we’re cooking with the team here…”