Tripp raises $11.2M to build the mindful metaverse
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Tripp has raised $11.2 million in funding to help it continue to create meditation apps that power the “mindful metaverse.”
The funding was raised from Bitkraft Ventures, Amazon Alexa Fund, Qualcomm, HTC, Niantic and Mayfield. Tripp reports that it will use the funding to help meet the growing global demand for mental wellbeing through Tripp’s extended-reality (XR) wellness accessible through augmented reality (AR), virtual reality (VR), and mobile application.
The company also recently announced the acquisition of BeardedEye’s world-building platform Eden, which will enable users to further customize their Tripp experience, explore digital realities and meet other people.
The launch of Eden on Tripp’s platform will be a major step towards building safe, community-driven experiences in the mindful metaverse, the company said.
“We’re grateful that more and more investors are recognizing the need for innovative wellness tools that expand beyond traditional meditation apps,” said Nanea Reeves, founder and CEO of Tripp, in a statement. “Through our acquisition of Eden, we’re one step closer to truly building a mindful metaverse and establishing a safe space for transformative experiences in digital realities, while also empowering creators to join us in our mission.”
Reeves recently spoke about the mindful metaverse at VentureBeat’s GamesBeat Summit 2022 event.
The fresh funding comes at a time when access to mental healthcare is in more demand than ever. According to the World Health Organization, the pandemic triggered a 25% increase in anxiety and depression worldwide, with resources to address these issues becoming increasingly strained.
Tripp’s digital support tools can help users take control of their mental health through meditative experiences.
“Tripp’s innovative platform highlights the unique magic of VR to support people’s mindfulness worldwide, and represents an important step towards normalizing the broader discussion around technology’s role in mental health,” said Pearly Chen, vice president at HTC Vive, in a statement. “We’re proud to be part of their journey as we work together to build out the mindful metaverse and help people everywhere foster a deeper connection with themselves.”
Tripp’s acquisition of Eden’s cross-service world-building technology marks a major milestone in pioneering the mindful metaverse as a safe space for users to connect and support each other’s emotional and mental wellbeing, the company said.
The acquisition will enable users to explore artworks and soundscapes while connecting with users from across the globe.
“With over one billion people globally suffering from depression, anxiety, or stress, we’re hopeful that innovations like Tripp can be a part of the solution,” said Moritz Baier-Lentz, partner at Bitkraft Ventures, in a statement. “Beyond a great product that is already a leader in its category, there was a lot to like about what Nanea and the Tripp team have built. It’s rare to find such a combination of authentic founder-market fit, operational excellence, and an exciting vision with many avenues for future growth.”
A business Tripp
Eden marks Tripp’s third acquisition, and second this year, following the acquisition of the largest live VR meditation community EvolVR in January. The announcement comes on the heels of TRIPP’s newly revamped mobile app and collaboration with Luminance to develop next-generation wellness experiences as nonfungible tokens (NFTs).
Tripp has 29 employees and 14 part-time session leaders who lead daily live group meditations. Reeves started the company in 2017 and raised $4 million the same year. In an email to GamesBeat, Reeves said she started Tripp after period of “tremendous loss with the realization of how meditation and playing video games carried me through many of life’s challenges. I wanted to build something that could help others in the same vein.”
For its business model, Tripp runs a cross-platform consumer subscription service. However, it is currently developing enterprise and clinical offerings that will start to commercialize in the next 12 months.
Tripp’s mindfulness catalog has over 50 experiences, with new content added regularly.
“Our core experiences of Focus and Calm are designed to do at different times of the day and we add new updates to them to support ongoing engagement,” Reeves said. “We are in the final definition of a new experience called Drift, which is designed to help with sleep preparation. We are also expanding into augmented reality in a very exciting way that is an extension of the VR experience, but will also stand alone in mobile AR. We are building much of this on the Niantic Lightship platform in a way that will encourage people to connect to the world around them with mindful interactions.”
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