Established in 2014, Outlier Ventures is one of the first VC firms dedicated to investing in the emerging crypto ecosystem. Since launching its Base Camp accelerator in 2019, Outlier Ventures has received over 5,000 applications for its highly sought after virtual accelerator and has helped raise over $350 million in seed funding for its growing portfolio of 220+ high-profile projects from across the world, such as Crucible and Biconomy. In addition, Outlier Ventures has supported the launch and growth of several billion-dollar crypto economies including Fetch.ai, Boson Protocol, Secret Network, Blox Move, Swash and DIA Data. Their portfolio includes notable projects across DeFi, NFTs and blockchain infrastructure with a focus on emergent Metaverse use cases such as NFT-based digital couture fashion brands, avatar marketplaces, decentralized music publishing platforms, play-to-earn games, augmented reality social positioning protocols, and more. Outlier Ventures has expanded its Base Camp program to partner with leading protocols such as Aptos, Filecoin / IPFS, Polygon, and Polkadot along with FARFETCH, to host dedicated accelerator programs for these Web3 ecosystems along with Ascent, Outlier Ventures’ advisory offering targeted at later stage teams. Through its blockchain agnostic approach, Outlier Ventures has achieved record growth, doubled its cohort intake year after year, and is on target to accelerate well over 100 startups in 2022, making it one of the most active investors in the space by deal volume and the most active Web3 accelerator globally and top 3 crypto investor globally by volume of investment. Since its inception, Outlier Ventures has always viewed its portfolio as an open stack of technologies that contribute to a new web paradigm, referred to as Web3, based on principles that prioritize the sovereignty of the user, their data and digital wealth, over platform and shareholder supremacy. In January of 2021, Outlier Ventures published its thesis on the imminent arrival of the Metaverse, outlining how Web3 would serve as an operating system for an Open Metaverse.

Outlier Ventures

Blockchange Ventures is a venture capital firm investing exclusively in early-stage blockchain companies, protocols, and applications that are trying to make a dent in the universe. The firm was founded in 2017 and is based in New York, NY, United States.

Blockchange Ventures

Decasonic is the venture and digital assets fund building blockchain innovation.

Decasonic

Super Ventures believes that Augmented Reality, Virtual Reality, and Mixed Reality are giving people real superpowers and are on a mission to accelerate industry growth. The Super Ventures fund invests in early stage startups developing solutions that augment the human experience using AR, VR, and MR.

Super Ventures

Accord Ventures is a venture capital firm that believes in and supports the potential of Asian entrepreneurs. It has invested in more than 50 startups in Japan, the United States, Taiwan, and Southeast Asia, and new technologies that bring new value to society, such as IoT, AI, and fintech, with a focus on platform businesses that utilize IT technology. And new services are supported.

Accord Ventures

Anfield Capital Management provides financial advisors with long-term capital appreciation through unconstrained core investment strategies.

Anfield Capital Management

Abies Ventures is a venture capital firm focused on investing in early-stage deep tech startups.

Abies Ventures

Primal Capital is an early stage and growth investor in Web3 and emerging technology companies. Our current portfolio consists of 50+ investments in Web3 & blockchain applications focused on consumer and enterprise adoption.

Primal Capital

Mawari

Mawari, Inc. is a pioneer in cloud rendering and streaming technology for interactive AR experiences. Mawari provides an AR-focused streaming SDK that renders 3D content in the cloud and delivers it efficiently to devices. Core to the AR Streaming SDK is Mawari’s unique, patent-pending compression technology that minimizes the weight of 3D content and enables real-time rendering and streaming to smartphones and AR glasses.

Mawari specializes in cloud streaming technology for AR applications, using machine learning, compression, and blockchain technologies to enable real-time rendering and streaming to AR glasses and smartphones through its Mawari Network and decoding algorithm. Mawari’s solutions solve the requirement of XR devices needing to have in-built high-end graphics processing capabilities. In December 2021, it announced that its 3DXR Content Streaming Platform would be available on the AWS Marketplace from 2022 onward, utilizing AWS Wavelength to minimize latency.

Technologies bringing about a new reality

Extended Reality

<div><a href="https://www.businesswire.com/news/home/20211203005441/en/KDDI-and-Mawari-to-Launch-a-Digital-Human-as-a-Service-DHaaS-Using-AWS-Wavelength">Mawari provides cloud rendering and streaming technologies for the XR industry. In 2021, the company partnered with telecom service provider</a><a href="https://www.businesswire.com/news/home/20211203005441/en/KDDI-and-Mawari-to-Launch-a-Digital-Human-as-a-Service-DHaaS-Using-AWS-Wavelength">KDDI</a>to create a digital human guide that provides indoor and outdoor wayfinding services in Tokyo.</div>

Imbuing emotion into human-digital interactions

Digital Humans

KDDI, Telefónica, Mawari and Sturfee Revolutionize Online Shopping With the 5G MEC Powered XR Digital Twin Store Project in Alignment With GSMA Foundry Telco Edge Cloud (TEC) Trials Initiative

Mawari specializes in cloud streaming technology for AR applications, using machine learning, compression, and blockchain technologies to enable real-time rendering and streaming to AR glasses and smartphones through its Mawari Network and decoding algorithm. Mawari’s solutions solve the requirement of XR devices needing to have in-built high-end graphics processing capabilities. In December 2021, it announced that its 3DXR Content Streaming Platform would be available on the AWS Marketplace from 2022 onward, utilizing AWS Wavelength to minimize latency.Mawari graduated from the T-Mobile accelerator program in 2022 and integrated its streaming technology with Qualcomm's Snapdragon Spaces. For the 2023–2024 timeframe, Mawari had plans to launch the Mawari TestNet in collaboration with an initial group of distribution partners in three different geographic regions with various use cases, such as engineering education, medical education, sports, entertainment, and real-estate visualization.Mawari generates revenue from content providers' usage of the Mawari Network, with Mawari Network delivery partners receiving a share of that revenue.Key customers and partnershipsKey customers include Qualcomm, BMW, 8th Wall, Ericsson, Niantic, T-Mobile, and Sapporo Breweries.In February 2023, Mawari partnered with Japan’s second-largest telecommunications company KDDI, which saw KDDI joining the Mawari Network Testnet in Japan to explore use cases for the consumer and entertainment verticals using XR wearables. Mawari previously partnered with KDDI to provide Mawari’s 3D XR Content Streaming platform to KDDI’s Digital-Human Guide. The company also partnered with T-Mobile to utilize its XR Streaming SDK to remove the rendering burden from T-Mobile’s edge servers.Funding and financialsIn <a href="https://sp-edge.com/updates/16280">February 2023 </a>, Mawari raised USD 3.5 million in a seed financing round co-led by Blockchain Ventures and Decasonic.

Interplay Learning (Interplay) provides on-demand, interactive, and hands-on simulation learning courses for skilled trades, including HVAC, plumbing, electrical, solar, and facilities maintenance, through VR, mobile, and desktop applications. The learning courses also include simulated walkthrough videos where experts lead users through procedure guides methodically, with knowledge testing features and additional learning material such as wiring diagrams, equations, sample system configs, and charts at the end of each lesson. The platform also enables managers to track user progress.The company operates a subscription-based model with monthly packages for individuals (USD 54) and teams (USD 229), alongside a custom plan for larger organizations.Key customers and partnershipsNotable customers include Tesla and Rheem Manufacturing. Interplay’s customer usage rose by 445% YoY in 2020. As of February 2021, the platform had over 2,000 customers and 110,000 users across the US.Funding and financialsIn its last funding round (February 2021), Interplay raised USD 18 million in Series B funding co-led by S3 Ventures and Owl Ventures, the world’s largest venture capital firm focused on education technology. As part of the deal, Managing Director of Owl Ventures, Ian Chiu, joined Interplay’s board. The funds were raised to expand its offering to new markets and to accelerate its vision to combine immersive learning experiences with a human connection.

Interplay Learning

Switzerland-based WayRay develops holographic AR technology and hardware for the automobile sector. Its technology is used in head-up displays (HUDs) that project images into a driver’s field of vision to assist with navigation. Although its initial focus was on developing HUDs that can be purchased and installed in any vehicle, it has since pivoted to producing embedded HUD systems (i.e., hardware built into vehicles). WayRay’s HUDs are considered to provide a wider field of vision and combine data (location and mapping information) with vision data to generate images by projecting a laser beam through a Picture Generating Unit (PGU) onto a Holographic Optical Element (HOE).&nbsp;In <a href="https://sp-edge.com/updates/18537">May 2023</a>, WayRay announced integration of its AR displays into Tesla Model 3's in Switzerland, with plans to follow shortly afterwards in the US. Previously, in September 2021 the company launched its deep reality system that replaces the traditional car dashboard. In addition, WayRay launched “The Holograktor” dubbed the first “metaverse on wheels”, which can be driven conventionally or using a remote control via a 5G and satellite connection (November 2021).&nbsp;The company’s founder and CEO, Vitaly Ponomarev, identified that its systems are more advanced, backed by more patents, and potentially 20x smaller than comparable devices in the market. WayRay’s HQ in Switzerland also acts as a product design and development hub, while its R&amp;D center and prototyping factory are based in Russia.&nbsp;Key customers and partnershipsThe company is backed by strategic investors such as luxury automaker Porsche, which highlighted the management’s expertise in space engineering, hardware, and software development as key reasons for its investment, Hyundai Motor Co., and Alibaba. It is also notable that these investors, particularly Hyundai, are looking at ways to potentially use WayRay’s technology to offer more services in the future. For instance, Hyundai believed that the technology could be used for smart cities and smart buildings, which are its new areas of interest.WayRay partnered with Karma Automotive, a producer of luxury electric vehicles, in December 2021 to support the implementation of its HUDs into their test fleet. Moreover, it partnered with a leader in designing and manufacturing specialty glass, AGP eGlass, in September 2021 to further proliferate its technology.&nbsp; Funding and financialsIt was reported in April 2021 that the company is considering a public listing at a USD 2 billion valuation via a SPAC, although no further updates on this have been announced as at January 2024.&nbsp;

WayRay

AmazeVR initially focused on developing VR technologies but pivoted to VR concerts in late 2019. The concerts are backed by proprietary 9K cameras and software that automate complex VR concert visual effects that run on more than 100 headsets simultaneously. Users join and hang out with other users as avatars while experiencing VR concerts. It intends to bring VR concerts by major artists to theaters and eventually, homes.AmazeVR rolled out its first commercial VR concert, which will feature 3x Grammy winner Megan Thee Stallion, in 2022. The artist is expected to tour select AMC Theaters across the US. It is also in the final stages of closing deals with its second and third artists. AmazeVR also revealed plans to release weekly content by 2024 in theaters and for at-home viewers.In <a href="https://sp-edge.com/updates/20145">July 2023</a>, AmazeVR launched its official AmazeVR Concerts app, featuring an exclusive VR concert from Swedish pop star, Zara Larsson. The app is available on major VR app stores, and the exclusive Zara Larsson VR concert can be accessed for a year at a launch price of USD 6.99. AmazeVR also produces and monetizes VR content on a subscription basis.As of August 2023, the company was in the process of producing and releasing mixed reality concerts by overlaying virtual elements onto live, real-world video.Funding and financialsThe company’s most recent funding was in <a href="https://sp-edge.com/updates/13338">September 2022</a>, when it raised USD 17 million in a Series B funding round led by Mirae Asset Capital. The fresh funds were allocated to expand partnerships with artists, artist management companies, labels, publishers, and agencies.

AmazeVR

Dispelix, based in Finland, designs and manufactures single-layer, full-color waveguide displays, a thin (about 1mm) transparent element that takes in a projected image and relays it to the eye, using a nanophotonics-based approach catering to AR applications (e.g., smart glasses). It uses laser beam scanning technology to render laser-sharp images with a gamut of color palettes, which are displayed using beam-combiner technology. Its patented and proprietary approach includes diffractive surface relief gratings, which are elements used for high-power laser applications, fabricated on high refractive index glass wafers that enhance field-of-view and image quality.The company had a total of more than 40 granted or pending patent families as of November 2021. Its product line, Dispelix DPX, includes Dispelix DPX - Ohut, Dispelix DPX - Selva, and Dispelix DPX - Sade with a varying degree of field of view, form factor, and weight. According to Co-Founder and CTO Juuso Olkkonen, its displays are the lightest and thinnest in the market.Key customers and partnerships1) Foxconn and Pegatron: to create reference designs for AR glasses based on its Selvä waveguide display (October 2023)&nbsp;2) VividQ: created a “waveguide combiner” which accurately displays variable-depth 3D content in a user’s environment (January 2023)3) ColorChip and Maradin: To further Light Beam Scanning (LBS) solutions for AR glasses (October 2022)4) Jade Bird Displays: To develop multiple reference designs for AR devices (June 2022)5) AAC Technologies: To improve waveguide displays for the AR and MR industry (March 2022)6) OQmented: for the development and commercialization of MEMS-based LBS technology (November 2021)7) Coretronic: To develop a range of AR optical module solutions (December 2020)8) Hoya Corporation: To improve quality of waveguide displays (November 2020)Funding and financialsIn its most recent funding round (November 2021), Dispelix raised USD 33 million in a Series B funding round co-led by Atlantic Bridge, CCB Trust, and Flashpoint with participation from Lifeline Ventures, VTT Ventures, and 3M Ventures. The funds were allocated to product development. It revealed that several OEM customers were slated to integrate its technology into their consumer offerings by 2023.

Dispelix

DigiLens is a developer of holographic waveguides, which is a clear, thin piece of glass or plastic, used for AR devices. In January 2023, the company launched ARGO, an XR smartglass designed for enterprise and industrial use, the first AR device to utilize Qualcomm’s SnapDragon XR2 platform. Other specifications included 6-degrees of freedom (6-DoF) tracking, a 30-degree field-of-view, spatial audio, a 48MP RGB camera, voice and gaze recognition, access to real-time data visualizations, and a 2,500-nits HD display.&nbsp;The company’s first product, the DigiLens Crystal was introduced in 2019, was a thin-film laser-etched photopolymer embedded with microscopic holograms of mirror-like optics. By projecting a micro display to one end of the lens and another set of optics working to guide the light wave toward the eye, this proved to be an ideal piece of hardware for AR devices, which are preferred with as little hardware as possible.&nbsp;It claims that its patented optical platform and photopolymer technology coupled with a holographic copy manufacturing process enable it to produce cheaper and more scalable solutions. In <a href="https://sp-edge.com/updates/17598">April 2023</a>, the company announced the launch of SRG+, a surface relief gratings product that improves upon its waveguide technology.The company generates revenue by licensing its technology across a range of industries including the automobile, enterprise, consumer, avionics, and military sectors. DigiLens also offers a white-label solution for automotive companies whereby it creates holographic waveguides for windshields that could offer in-cabin experiences for drivers.&nbsp;&nbsp; Key customers and partnershipsKey partnerships include that with1) Phantom Technologies: - Phantom Technology: To integrate Phantom's CASSI Spatial AI assistant into the DigiLens ARGO glasses, providing features such as spatial search, a contextual assistant, and task management using voice commands (October 2023)2) Wisear: To integrate its neural interface-powered earphones with the ARGO smart glasses (May 2023)3) Mojo Vision: To utilize Mojo Vision's micro-LED technology to build improved AR glasses (May 2023)4) Taqtile: To integrate the company's ARGO smart glasses with Taqtile's AR work platform, Manifest (May 2023)5) OMNIVISION: To develop new XR product offerings (January 2023)Other partnerships include that with OMNIVISION (January 2023), a leading global developer of semiconductor solutions to develop new XR product offerings. OMNIVISION’s liquid crystal on silicon (LCOS) panels allowed DigiLens to build LCOS/LED projectors optimized for its holographic waveguides. OMNIVISION's core camera technology provides DigiLens' devices with features such as visual odometry and six degrees of freedom.&nbsp;DigiLens also works with Taiwanese licensed waveguide manufacturer Young Optics, Chinese original design manufacturer and electronics supplier Malata, Korean display manufacturer Sekonix, international technology company Continental, Chinese optical elements manufacturer Crystal Optech, and Mitsubishi Chemical.&nbsp;Funding and financialsIn April 2022, DigiLens announced the second close of its Series D funding round (intiial close in November 2021) in which it raised USD 50 million at a valuation of USD 530 million. The funds were allocated for the development of DesignV1, its second-generation product.

DigiLens

Companies developing XR headsets and relevant sub-components (displays, sensors, and processors). Also includes complementary XR hardware (tracking devices, haptic vests, and gloves)

Companies offering engines that enable the development of AR/VR content, also includes companies offering capabilities to capture and create 3D images for immersive environments

Companies offering AR/VR solutions or toolkits for specific industry applications, including VR game developers

Companies offering location-based AR/VR experiences

AR/VR platforms offer remote assistance to field experts and headset manufacturers facilitate virtual work

Some solutions in the "content" segment are offered under a B2B SaaS model

Headsets and content segments provide the building blocks for the metaverse

AR, VR, and MR are the primary enabling technologies for the XR industry

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 <a href="https://www.businesswire.com/news/home/20211203005441/en/KDDI-and-Mawari-to-Launch-a-Digital-Human-as-a-Service-DHaaS-Using-AWS-Wavelength">
 Mawari provides cloud rendering and streaming technologies for the XR industry. In 2021, the company partnered with telecom service provider 
 </a>
 <a href="https://www.businesswire.com/news/home/20211203005441/en/KDDI-and-Mawari-to-Launch-a-Digital-Human-as-a-Service-DHaaS-Using-AWS-Wavelength">
 KDDI
 </a>
 to create a digital human guide that provides indoor and outdoor wayfinding services in Tokyo.
 
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<div>
 
 Inworld AI provides an engine to build AI characters for gaming, the metaverse, VR/AR, and immersive experiences.
 
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Inworld AI

<div>
 
 Soul Machines uses a cloud-based platform called Human OS to create digital humans that are highly realistic in appearance and behavior. This is achieved through the integration of various technologies such as its patented Digital Brain and Autonomous Animation Engine as well as third-party tools like conversational AI, sentiment analytics, and data integration. The Digital Brain is capable of contextualizing and adapting to different situations and can animate realistic human-like behaviors on its own.
 
</div>

Soul Machines

<div>
 
 DeepBrainAI allows the creation of digital humans for various purposes: business, recruitment, service, education, and personal. The company offers 100+ AI avatar templates to choose from and speech in 55+ languages. It also offers several digital avatar products such as AI Avatar (digital avatars for retail, banking, education, etc.), AI Human (creation of custom digital avatars), AI Studio (for creating videos), and AI Interview (digital avatars for HR tasks such as recruitment). In March 2023, the company launched its GenAI video synthesis solution, AI Studios 2.0.
 
</div>

DeepBrain AI

<div>
 
 Digital Domain is a visual effects and digital production company. Its Digital Human Group applies advanced creation techniques and proprietary technology for feature ﬁlms, real-time capture for live venue events, futuristic gaming experiences, and mobile and next-generation interactive digital human rendering.
 
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Digital Domain

<div>
 
 ObEN's platform allows users to create their own digital twin by uploading a picture of themselves to the platform. Virtual celebrities, gaming, entertainment, and live streaming are noted as key uses of ObEN avatars. The avatars are designed to make interaction easy and aim to enhance the naturalness and simplicity of the virtual assistant or digital character. Once the avatar is created, users can live-stream and produce videos by transferring content to ObEN's real-time content creation platform.
 
</div>

ObEN

Digital humans that engage in two-way conversations for customer service and employee training

Digital humans that deliver responsive interactions for virtual events, social media, and entertainment

Interactive digital humans for applications in education, fashion, sports, and others

Digital humans for one-way customer and employee communications, including presentations, training modules, or informational videos, and the like

Digital humans as characters in movies, news reporting, virtual events, and television shows without two-way user interaction

Digital humans as characters for video games without two-way user interaction

Digital humans for applications in fashion, education, sports, and others without two-way user interaction

Several digital humans are integrated with GenAI models

NLP is used by digital humans to understand, process, and generate natural language

AI and ML are used in digital humans to process data and generate responses

Digital humans can be deployed in the metaverse for a variety of purposes, such as virtual customer service, virtual events, and virtual social interactions.

Mawari

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