Inworld AI, which facilitates the development of virtual characters based on artificial intelligence, announced that it had raised $50 million from its Series A funding round led by Section 32 and Intel Capital. The aim of the company is to lead the field of artificial intelligence in the metaverse and gaming.
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The round included investments from Founders Fund, Accelerator Investments LLC, First Spark Ventures, Kleiner Perkins, BITKRAFT Ventures, CRV, M12, Micron Ventures, LG Technology Ventures, SK Telecom Venture Capital, NTT Docomo Ventures, and The Venture Reality Fund.
Inworld CEO Ilya Gelfenbeyn states the following in his post-investment press release:
“In the last year, we’ve seen research that shows that online relationships can be as meaningful as those formed in real life. With Inworld, you can create gaming NPCs (non-playable characters), native populations for virtual worlds, virtual influencers, brand representatives, in-world guides, and digital humans that can forge relationships with users and unlock deeper engagement.
This is the future of entertainment–stories that are told through characters with a rich inner life, that audiences are invited to participate in, and take immersion to the next level.”
Section 32 Managing Partner Andy Harrison adds:
“Inworld’s AI platform removes the complexities of developing intelligent virtual characters with the potential to unlock a variety of new online experiences. Applications for Inworld’s platform transcend what’s possible in gaming and the metaverse alone, and enable enterprises to deliver rich, on-brand experiences with AI-powered virtual characters capable of delivering memorable user experiences.”
The company was founded by Kylan Gibbs, Michael Ermolenko, and Ilya Gelfenbeyn, who specialized in artificial intelligence and worked together at well-established companies such as Google. In addition, the company received support from Oculus, Twitch, Riot Games, The Sandbox, and Animoca Brands in the past. With this investment, the total financing received by the company reached $70 million.
Intel Capital Managing Director Srini Ananth comments:
“The demand for immersive content and experiences is rising, ushering in a thriving creator economy and unlocking opportunities for individual developers. Inworld has quickly become a trusted resource for developers, who are flocking to the platform to create AI-powered virtual characters with human-like speech, facial gestures and body language for immersive realities including the metaverse, VR/AR, games, and virtual worlds.”
The AI tech company was also one of 6 companies selected for the accelerator program created by the Walt Disney Company in July. In addition, the fact that the company has managed to enter the AI 100 list that CB Insights carries out every year proves that it has taken its steps very well.
Inworld AI’s developer panel has a straightforward interface and an Oculus application, which provides code-free and easy use. Users can experience their characters in real-time with Oculus headsets.
You can integrate the company’s solutions with game engines such as Unity and Unreal Engine. Stating that it provides solutions in games, metaverse, and entertainment, the company also has open positions. You can click here to see the career opportunities.
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