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Metaverse Construction Firm LandVault Extends Series B With $3 Million Raise

LandVault, a company that bills itself as a metaverse construction firm, extended its Series B funding round, raising $3 million from the likes of The Sandbox, the Gemini Frontier Fund, HodlCo and hedge fund Kingsway Capital.

The round tops up the $37 million the company has raised so far to build out metaverse infrastructure and gaming tech, according to a company release. It first announced its $25 million Series B fundraise in November 2021.

The fundraise marks a strategic pivot away from what CEO and co-founder Sam Huber called the "red sea" of advertising, which it had originally built its business on.

The company will use the capital to continue building out its protocol Matera, which puts metaverse builds — such as virtual shops or stadiums — on-chain. It will also be used to grow commercial operations across its hubs in Dubai, Europe, the U.S. and Asia and will further invest in technology, notably AI-powered tools to accelerate the creation and monetization of metaverse content. 

(By Lucy Harley-McKeown)

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