The virtual reality gaming studio Alta recently announced it closed a $12.4 million seed funding round. As a result, the company has secured a $62 million valuation. According to CEO Tima Anoshechkin, this money will be used to further develop the company’s IP and other proprietary content.
The seed funding round was co-led by the Makers Fund and Andreessen Horowitz. Additional investments came from Pioneer Fund, Boost VC, muru-D, and Thomas Rice.
“Alta started out with a single quest: to create worlds that bring people together,” Anoshechkin said. “This funding helps us expand that vision beyond just growing our flagship game, and allows us to expand the team, create new opportunities and partnerships to collaborate with, and continue to develop world-class technology whether with VR or other platforms. Whenever and wherever you are playing, our experience will always be engaging, seamless, and fun.”
Alta was founded in 2016 by Anoshechkin, Joel van de Vorstenbosch, and Boramy Unn. The organization’s most famous video game is A Township Tale, an open-world virtual reality role-playing game that is set in a medieval fantasy world.