Union Avatars has just taken a giant step forward in its ambitions by capturing €1.2 million in a funding round, led by the venture capital manager Inverady Y FI Group.
In addition, they have participated in the capital increase of the company dedicated to creating avatars for the metaverse, other partners such as Outlier Ventures, GoHub Ventures, Inlea and other private investors such as Rat Gasol or Carlos Solana, present in the company since its inception, providing credibility and seniority for its long history in the world of innovation and entrepreneurship. The resources raised will be used mainly for product development, international expansion and talent.
The company, founded in 2020 by Cai Felip and Jordi Conejero, arose from the idea of bridge the real world with the new digital worlds that now converge in what has come to be called the Metaverse. Now, Union Avatars, is taking a new step towards web3, that is, the integration of said avatars for the metaverse integrated in the blockchain.
Felip has been in the blockchain world since 2014, long before the great interest that the term “metaverse” has obtained. The founder and CEO of Union Avatars explains that “the big change is to have an avatar that is like the passport to any metaverse, and this is possible thanks to this new integration that we are doing with web3”.
Along these lines, the Barcelona-based company plans to launch UnionID, a digital identity project with which users will be able to have a totally secure identification system and with absolute control of their privacy. In the words of its founder: “Union ID will become a 100% secure identification card that will allow us to log in to different platforms without exposing our data and being able to carry our digital assets with us from platform to platform while maintaining absolute control of our privacy. Imagine that you can choose a different image to show yourself on your social networks or in your work meetings, but you can also take your favorite virtual shirt from one place to another. And all this, without anyone being able to know or sell your data”.
Currently, the Linking Realities team is made up of 22 people and they already have more than 30 clients all over the world. the main pain it is the representation of people in the metaverse, so their business is mainly B2B based, although with the integration into web3 and the UnionID project, the plan is to focus on the end user.
For 2023, the founders foresee another round of financing to continue growing in this incipient universe. The company has advisors such as Jean Clauteaux, former CEO and zone manager of L’Oreal; Simonetta Lulli, former Vice President of Habbo; Fraser Edwards, CEO of Cheqd or Carles Reina, who has been part of companies such as Uber, Sonantic or Tractable.