PortalOne — the world’s first hybrid mixed reality (MR) games platform — announced a successful Series A funding round that secured roughly $60 million for the firm.
The Series A funding is led by global internet, software, consumer, and fintech investment firm Tiger Global, with additional funding supplied by Scooter Braun, Schuster Tanger, Andrew Marks, and Temasek. Further participation from Avenir Growth, Connect Ventures, Animoca Brands, Access Industries, Nordstar, and Socii Capital assisted in the funding round.
Additional companies contributed financial support and PortalOne saw participation from angel investors from major online firms such as LinkedIn, Axie Infinity, FCC, Twitter, Google, and MTV.
Bård Anders Kasin, CEO and Co-founder of PortalOne, commented,
“Our company now enters an exciting new phase of scaling up on all fronts as we prepare to introduce hybrid games to the world”
The funding enables PortalOne to expand its hybrid gaming platform and secure major intellectual properties (IPs). The US-based gaming platform has also partnered with Atari to introduce its classic gaming IPs as part of PortalOne Arcade which makes super-sized versions of arcade cabinets.
Series A funding will introduce additional methods for third-party brands to create immersive content on the PortalOne platform.
For example, Arri, leaders in filmography and lighting equipment for more than 100 years, recently entered a strategic partnership with PortalOne.
Kasin added:
“Now we look forward to welcoming new partners who recognize the opportunity PortalOne offers for iconic and popular IP brands to bridge into a whole new era of entertainment”
Since August 2021, the hybrid gaming platform became available in the US and Canada as a closed beta, with a full launch expected later this year.
What is Hybrid Gaming?
PortalOne’s new breed of hybrid gaming seamlessly combines immersive experiences with real-world live events.
Danny Cohen, President of Access Entertainment, said,
“PortalOne brings together a live video with immersive gameplay in a way I have never seen before. It is highly innovative, very entertaining and delivered with a loving attention to detail. The potential for Portal One’s gaming platform is immense”
PortalOne’s solution employs MR technology to overlay immersive gaming content in a real-world environment. Users play event-based immersive content to win digital rewards and players can use these to receive real-world collectables. Including, “real cash” as stated on PortalOne’s beta sign up.
Additionally, PortalOne’s hybrid-gaming solution supports cross-platform delivery, meaning users can enjoy the immersive experience on a smartphone or tablet device.
