Infinite Reality Secures $3 Billion Funding to Expand its Immersive Technology Vision

In General XR News

TL;DR
What has happened?	Infinite Reality has raised $3 billion from a private investor to accelerate its growth in immersive technologies.
Why does it matter?	This significant fundraise positions Infinite Reality to capture a large share of the $1 trillion projected XR market.
What does Infinite Reality do?	Infinite Reality provides tools and solutions that help brands and creators build immersive, AI-driven digital experiences.
How will the funding be used?	The funding will support new acquisitions, product development, infrastructure expansion, and the launch of a global innovation hub.

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January 9, 2025 – Infinite Reality (iR), a company working in artificial intelligence (AI), spatial computing, extended reality (XR), and other immersive technologies, has this week announced the closing of a USD $3 billion round of funding from a private investor whose portfolio focuses on global technology and real estate investments, according to iR. The funding now brings the company’s valuation to a total of USD $12.25 billion. 

iR stated that with this substantial backing, it will be well positioned to accelerate the evolution of digital engagement and to capture a large share of the immersive technology market, which is projected to grow to an anticipated $1 trillion by 2030. The company added that this substantial capital raise “validates iR’s vision for the next generation of the internet,” and marks a defining moment in the immersive technology sector. 

Infinite Reality’s Portfolio Strategy

Infinite Reality’s portfolio provides enterprises and creators with a suite of tools and data capabilities to build immersive experiences and enhance connections in the digital world. The company has been steadily expanding its product portfolio through the acquisition of a number of XR technology companies over the years, with at least six such acquisitions taking place in 2024 alone.

Major Milestones Achieved by Infinite Reality in 2024

Milestones for Infinite Reality last year have included:

• The signing of a five-year deal with Google Cloud to power immersive digital experiences using AI and spatial computing
• The expansion of iR’s MENA presence through partnerships with both public and private sectors.
• The USD $450 million purchase of Dubai-based Landvault (now iR Enterprise) which has built over 1.2 million square feet of virtual experiences for high-profile brands.
• The closing of multiple acquisitions, including the USD $250 million acquisition of the Drone Racing League, the USD $75 million purchase of Ethereal Engine, the USD $45 million acquisition of London-based XR platform and creative studio Zappar, as well as the acquisition of Action Face, and Stakes.
• Continued work with Warner Bros. Discovery Sports, including the launch of the FIM SGP-VERSE, a fully immersive speedway experience app.

iR stated that with this latest funding, it aims to continue to build on the many initiatives it kicked off in 2024 with its now significant warchest, including the execution of acquisitions, partnerships, and product launches. 

Commenting on the funding round, John Acunto, co-founder and CEO of Infinite Reality said: “This fundraise allows us to continue investing in our customers as they strive to be active participants in today’s technological advancements. Put simply, we enable them to seamlessly convert their existing 2D website into an immersive space and add the power of AI to optimize sales and ultimately their bottom line. In our world, brands and creators aren’t just participants but true architects of their digital destiny, with complete control over their customer relationships and data. This strategy requires investment in exceptional talent, breakthrough technology, and most importantly, an unwavering commitment to our customers.”

How Will Infinite Reality Use This $3 Billion in Funding?

iR noted that key areas where it will leverage the investment include further feature development for its no-code immersive SaaS product iR Studio, which provides brands, creators, and developers the tools to build and deploy immersive projects. Through its proprietary iR Engine and the addition of AI assistance, iR Studio customers will soon be able to easily publish 3D websites and access enhanced data, according to Infinite Reality.

Strengthening Infrastructure and Building a Global Innovation Hub

In addition to its software investments, iR will also continue to execute on its infrastructure plan, namely the public-private partnership with the city of Fort Lauderdale, Florida and iR’s build-out of a new global headquarters in the State. Launched with the acquisition of over 60 acres of previously abandoned property, the project will see the former Superfund site be revitalized into a state-of-the-art innovation hub and is projected to create thousands of new jobs, according to iR. With support from this latest funding round, iR stated that the development will help to reinforce Florida’s position as a “new frontier for digital innovation.” 

For more information on Infinite Reality and its mission to accelerate the global adoption of immersive technologies across industries and use cases, please visit the company’s website.

Image credit: Infinite Reality