MUMBAI: Immersive technology and digital media innovation firm Infinite Reality (iR) has closed a landmark $3 billion equity investment from a private investor specializing in global technology and real estate. The funding underscores confidence in iR's vision for the next generation of the internet, leveraging extended reality (XR) and artificial intelligence (AI).
The investment positions iR as a major player in the rapidly growing immersive technology sector, projected to reach nearly $1 trillion by 2030. CEO John Acunto emphasised the company’s commitment to empowering businesses and creators with tools to craft immersive digital experiences while retaining full ownership of their data and customer relationships.
"This fundraise validates our mission to build an immersive platform that powers the next era of the web," said Acunto. "Our customers can now seamlessly transition from 2D websites to immersive spaces, optimising their operations and unlocking new revenue opportunities."
IInfinite Reality plans to leverage the funding for continued expansion, including acquisitions, partnerships, and product development. Key recent milestones include:
* The significant expansion of iR’s MENA presence through partnerships with both public and private sectors. This rapid growth is highlighted by multiple high profile collaborations, including the development of advanced digital twin technologies for practical applications such as interactive training and safety demonstrations for the UAE ministry of finance, as well as the recent unveiling of the digital twin of the DMCC Crypto Centre. The momentum will continue to build with upcoming prominent projects across the region including Saudi Arabia, Qatar, and beyond, encompassing initiatives with government entities, tourism authorities, and premier real estate developers.
* The $450 million purchase of Dubai-based Landvault (now iR Enterprise) which has built over 1.2 million square feet of virtual experiences for countless high-profile brands including Mastercard, Standard Chartered, Hershey, a Cannes Lion-winning Heineken campaign with Dentsu, groundbreaking activations with Hershey in Decentraland, and the innovative World of Women experience in The Sandbox.
* The closing of multiple acquisitions, including the $250 million acquisition of the Drone Racing League, the $75 million purchase of Ethereal Engine, Action Face, and Stakes. These deals strengthened iR’s capabilities in computer vision and spatial web technology, gaming, robotics, and more.
* Continued work with Warner Bros. Discovery Sports, including the launch of the FIM SGP-VERSE app, the world’s first socially interactive and fully immersive speedway experience with features such as customisable camera streams, an exclusive pit reporter feed and on-demand video content.
In addition, iR is advancing its Florida innovation hub, transforming a former Superfund site into a state-of-the-art headquarters in Fort Lauderdale, expected to create thousands of jobs and bolster the region’s technological leadership.
Co-founder Amish Shah noted that the investment, secured as equity without debt, allows iR to execute its vision without restrictions. "This partnership provides us with unparalleled resources to grow through innovation, acquisitions, and global market expansion."
Infinite Reality's iR Studio, a no-code immersive SaaS platform, will see further enhancements to democratise access to XR technology. By combining AI and proprietary tools, the company aims to make immersive digital experiences accessible and scalable for brands and creators worldwide.
