Lighthouse Labs will use the round to grow its team, expand the ecosystem of worlds it works with, and target a summer 2022 launch.
Lighthouse, the company developing the Open Metaverse navigation engine, announced today that it has raised a $7 million seed round co-led by Accel, BlockTower and Animoca Brands. The round includes participation from White Star Capital, Sparkle Ventures, Gemini Frontier Fund, The Graph Core Developers StreamingFast, Tiny VC and Angels including Patricio Worthalter (Founder, POAP), Ryan Selkis (Founder, Messari), Alex Svanevik (Founder, Nansen). , Thibault Launay (Founder, Exclusible) and other high profile Web3 investors.
After a year in which virtual worlds like The Sandbox, Decentraland, and Otherside sold hundreds of millions of dollars worth of land and attracted names like Adidas, Tommy Hilfiger, and Snoop Dogg, the Metaverse has quickly garnered public interest. Many new worlds have emerged to empower creators and capitalize on a market opportunity estimated at $680 billion by 2030 (Grand View Research). The rapidly increasing fragmentation of the ecosystem is making discovery an increasingly daunting experience for users and developers, who are now wondering which world to explore and into which to build experiences.
Founded by Jonathan Brun and Justine Massicotte, Lighthouse seeks to solve this problem by simplifying discovery and mobility on the Spatial Web. Its platform, which will launch this summer, will allow users to search for places, events, creators, experiences and even friends in and around virtual worlds. Beyond search, Lighthouse will offer a portal where users can see trending activity, form friend groups to explore the Metaverse, see where their NFTs can be used, and track the work of specific brands and developers. Prior to founding Lighthouse, Jonathan Brun was entrepreneur-in-residence at White Star Capital’s digital asset fund, while Justine Massicotte was responsible for the query suggest engine at Coveo, a publicly traded business search firm with global operations.
“If you’re curious about the metaverse and don’t know where to start, Lighthouse is the place to be,” said Jonathan Brun, co-founder and CEO of Lighthouse. “Right now, exploring the metaverse feels more like gaming, where you have to jump from one game to another to find things, than like the internet, where you can access everything from a single entry point. With the construction of Lighthouse, we anticipate that isolated worlds will eventually merge to get closer to the internet. We have all seen how standards and principles of openness have propelled our digital lives with the internet. We are confident that the Web3 virtual worlds will unite behind our vision of making the open metaverse a searchable place.”
“Lighthouse has an exciting opportunity to build part of the unifying infrastructure for the metaverse,” said Andrei Brasoveanu, Partner at Accel. “The power of the metaverse lies in making it discoverable by a wide range of users, creators, and brands. Jonathan and Justine have been thinking deeply about the possibilities ahead and what it takes for everyone to be immersed in this increasingly fragmented virtual world. We look forward to working with the Lighthouse team on this journey!”
To operate its platform, Lighthouse works directly with the worlds for which it provides search capabilities. “Web search engines like Google or Brave use crawlers to discover publicly available websites. However, due to the heavy and dynamic nature of 3D interactive media, real-time search across and within virtual worlds requires direct data integration. The open metaverse is still in its infancy, which gives us the ability to work hand-in-hand with projects to provide standards that ensure the spatial web is cohesive,” said Justine Massicotte, co-founder and CTO of Lighthouse .
Yat Siu, Executive Chairman and Co-Founder of Animoca Brands, commented, “As a longtime builder and supporter of the open metaverse, Animoca Brands is keenly aware of Lighthouse’s overall value proposition and specifically the pain points the company is working towards the solution. We believe Jonathan and Justine have the right vision and expertise to make it happen, and we look forward to providing our support as they expand the universe of worlds they work with.”
“As users will spawn into many parallel virtual worlds in the open metaverse using their avatar identity, we believe that a new standard is needed for a navigation system that enables both content discovery and socialization layers to aggregate metadata supporting the Making it easier to connect with your friends and communities across them and explore content from one to another,” said Sebastien Borget, COO and co-founder of The Sandbox. “Lighthouse’s vision is centered on that, and we’re excited to be working closely with them at The Sandbox and look forward to continuing to provide our support to make the future truly open, transparent and interoperable.”
The funding will be used to expand Lighthouse’s engineering and community teams, expand the universe of worlds it works with, and launch its platform in summer 2022.
https://techround.co.uk/news/lighthouse-labs-raises-7million-seed-round/?utm_source=rss&utm_medium=rss&utm_campaign=lighthouse-labs-raises-7million-seed-round Lighthouse Labs raises $7M seed round co-led by Accel, BlockTower and Animoca Brands