Home Finance METAVERSE STARTUP CHALLAU RAISES FRESH VC FUNDING FROM OCULUS INVESTORS TO TAKE ON FACEBOOK’S META 

METAVERSE STARTUP CHALLAU RAISES FRESH VC FUNDING FROM OCULUS INVESTORS TO TAKE ON FACEBOOK’S META 

by uma

26 April 2022, LONDON – Challau, the metaverse platform which enables users without a VR headset or high-end computer to enter immersive 3D environments, has raised a pre-seed round from 7percent Ventures, whose team first backed Oculus VR.

Challau’s platform, which offers immersive 3D environments accessible on all internet-enabled devices without the need for downloading software, raised over $500K. Already since its beta launch, more than 20,000 Metaverse user sessions have taken place, and the platform has experienced 28% week-on-week growth in user numbers most recently. More than 3800 unique virtual 3D worlds have already been created by users on the Challau platform. 

In December 2021, Forbes reported that the metaverse is a $1trn opportunity for investors and likely to fundamentally reimagine the scope and use of the internet in coming years.

The platform allows users to easily create their own 3D virtual world and up to 25 people can concurrently engage within each 3D environment supported by full body avatars, spatial audio, real-time high quality web graphics, avatar audio lip-sync and micro-expressions. Nearly 200 college campuses, 400 offices, and over 3000 residential properties have been established on Challau. The platform is delivering immense value to people looking to get their first foothold on virtual properties in the Metaverse.

Founder and CEO Muhammad Zain Khawaja said: “We are delighted to have the support of 7percent Ventures, a fund and team with an impressive track record of supporting the most innovative, futuristic and groundbreaking technologies.

“7percent were the first investors in Oculus and have the best possible track record to understand and support Challau in its development – they really understand what this space is all about”

“The single biggest challenge that was holding back adoption of the Metaverse by billions around the world was accessibility. You would need to own a VR headset, go through a complicated setup procedure, buy a powerful computer and have ultra-fast internet speeds – that was really limiting. We’ve built our platform to work through your PC and even your smartphone – so you can carry your Metaverse in your pocket at all times. This is a Game-Changer.”

7percent Founding Partner Andrew J Scott said: “Challau provides access to a frictionless metaverse environment, without the usability or device spec barriers to entry which 3D worlds have. The team have built some fantastic inhouse technology and users love the product. We’re excited to be on the journey with the Challau team.”

As the technology develops, Challau aims to continue to expand its Metaverse offering and open up new types of social, retail and branding experiences for the masses. Even today, every user in a Challau environment can do so much more than they expect – the platform supports interactive Smart TVs with thousands of hours of fun content, shared whiteboards for brainstorming together, 3D webcam sharing to make those personal connections, and 3D screen sharing to support all productivity tasks.

Challau is ensuring nobody is left behind by the pace of technological innovation, and the Metaverse is accessible to everyone, everywhere.

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