Matterless raises $1.25m to build social AR companions

Funding Rounds

Summary

On a mission to generate the sense of companionship through augmented reality, Matterless has raised 1.25m USD of venture capital funding to build a virtual world conducive to real connection. It feels almost trite to point out how Coronvirus has further exacerbated the loneliness epidemic, but it seems that we’re caught in a whirlpool of downwardly spiraling mental health and alienation. One of the most striking measurements of how the prospect of isolation has impacted our psyche is how the price and demand for pets exploded at the start of the pandemic. Platforms like Twitch and OnlyFans have carved out huge niches for various kinds of parasocial interaction, where the social engagement is almost entirely one-sided. Built on a massive breakthrough in AR technology that allows for moments in augmented reality to be effortlessly shared, the soon-to-be-released Matterless app allows users to adopt virtual companions with unique personalities, traits, and quirks.

$ Funding

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Amount $1.3M Total raised
Date July 2, 2021 Announcement date
Investors Centers for Disease Control and Prevention, Kenetic Capital, NGC Ventures, Cadenza Capital, NPR, Outlier Ventures Ltd & LLP Lead investors
Company https://www.matterless.com/ Funded company

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applications
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Developer Tools API Platform Collaboration Software

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$500M to $1B