Why more funding means more peace of mind for TRIPP and its users

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startup from Los Angeles TRIP doesn’t want the metaverse to be just “a mall for virtual consumers,” founder Nani Reeves told TechCrunch.

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Instead, Reeves’ company presents a metaverse experience that can “deepen connection with the self, facilitate mental well-being, and enable personal and collective transformation.”

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TRIPP’s vision of a conscious metaverse has already become a (virtual) reality: its wellness experience can be accessed through multiple platforms and devices. This includes AR smart glasses and VR headsets, as well as smartphone apps, collectively referred to as XRor augmented reality. Reeves expects mobile devices, augmented reality and virtual reality to eventually come together, “just like so many devices have come together to form our phones.”

If this sounds a bit abstract, look no further than EvolVRthe VR meditation community, acquired by TRIPP disclosed last February. TRIPP/EvolVR group meditations can be experienced live on multiple platforms such as Microsoft’s AltspaceVR and Meta’s Horizon Worlds.

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The TRIPP product itself offers a wide range of capabilities, from breathing exercises and binaural audio to guided visualization and worldscapes, some of which users can customize using the TRIPP Composer feature.

TRIPP recently acquired another company, a cross-service world building platform. Eden. “This acquisition will allow users to further customize their TRIPP experience, explore works of art and soundscapes, and connect with users around the world,” the company said in a statement.

Before founding TRIPP, Reeves has worked in several leadership roles in the video game industry and is focused on creating a complete experience that goes beyond watching and listening. She has surrounded herself with talent who also share this vision, including a collaborator who originally worked on Eden as a side project.

The acquisition of Eden is funded by a $11.2 million Series A renewal led by gaming investment company BITKRAFT, Reeves said. Other contributors include Qualcomm, Amazon Alexa Fund, HTC and Pokémon GO maker Niantic, as well as current investor Mayfield, who has been a TRIPP supporter for some time. Indeed, the firm was involved in a $4 million startup capital injection. in 2017before Serie A round co-host in mid-2021 with Vine Ventures.

According to Reeves, the source of this round was a LinkedIn post from BITKRAFT, followed by an offer she couldn’t refuse. Speaking to TechCrunch, she also stressed how excited she is to have new investors ready to support TRIPP in expanding its reach across multiple platforms. It didn’t hurt that they came from games, immersive technologies and web3, as the company hopes to continue to interact with creators.

Reeves’ decision to take this extra capital, despite still having cash from the last round, is also in line with many expectations. advice we’ve been hearing from investors lately. For example, Y Combinator told its startups that in the current downturn runway extension should be a priority.

TRIPP is in no position to cut costs and is still hiring, but not at the rate it originally planned. “We really want to be careful with the current unexpected market conditions,” Reeves said. “In the coming months,” she predicted, “many companies will have difficult times.” On the contrary, she says, TRIPP now has “a lot more headroom” and a strong team to carry out its plan.

TRIPP’s emphasis on mental well-being in the metaverse is timely. First, because the metaverse shouldn’t be another place to get groped and pursued. Second, because mental health matters look bleak. According to the World Health Organization, the prevalence of anxiety and depression worldwide increased by 25% in the first year of COVID-19.

Mental health is in the spotlight PsyAssistwhich TRIPP acquired in 2021. As a separate offering, it provides clinics and patients with tools “to support the psychological healing of patients undergoing psychedelic therapy.”

TRIPP’s main focus is more on B2C, but it can also be good for mental health. His investors hope so. According to HTC VIVE vice president Perly Chen, the TRIPP platform “represents an important step towards normalizing the broader discussion about the role of technology in mental health.”

Credit: techcrunch.com /

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