Alta secures $12.4 million in funding led by Makers Fund and Andreessen Horowitz

The metaverse platform Alta has managed to secure further funding for the beginning of 2022, having secured another $12.4 million in funding. To date, the company has managed to reach a total valuation of $62 million with this new injection of capital.

This round of funding was initially led by both Makers Fund and Andreessen Horowitz, but subsequently found follow-up support from the likes of Pioneer Fund, Boost VC, Thomas Rice and more.

With this new investment, Alta aims to expand and establish new networks across the virtual worlds of the metaverse. At its core, the team’s emphasis on procedural generation allows it to host a huge volume of generated assets and content within its virtual world without straining the underlying system.

Further funding is on the cards for the company, as it also aims to staff up globally, with physical offices in Australia and the United States, and eyes on physical offices in Europe and Asia being likely.

Speaking to TechCrunch about the investment round, Andrew Chen of a16z made the case that Alta’s technical prowess, along with its passion demonstrated through its projects within the metaverse made it an ideal company to invest in.

“Over the last two years, in particular, we’ve seen VR adoption increasing while the metaverse grows and are excited to partner with Alta as they continue serving and growing this community.”

Having been founded in 2016, Alta became a standout as a VR game dev for its open-world RPG – A Township Tale. Since it initially gained traction in 2021, the game gained a following during its time on Oculus Quest 2, while the company accrued a following of over 500,000 active users.

For more information about Alta, you can visit the website right here.

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a16zAndreessen HorowitzMakers FundMetaverseVirtual Reality
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