Meditation Metaverse App Tripp Completes $11.2 Million Financing Qualcomm and Others

Mindfulness Metaverse meditation app Tripp recently announced the completion of $11.2 million in financing, with participation from Bitkraft Ventures, Amazon Alexa Fund, Qualcomm, HTC, Niantic, and Mayfield.

Tripp said it will use the funding to develop its augmented reality (AR), virtual reality (VR) and mobile applications, as well as provide extended reality (XR) health services, to help meet the growing global mental health needs.

The company also recently announced the acquisition of BeardedEye’s virtual world-building platform, Eden, which will allow Tripp users to further customize their experience, explore digital reality and meet other people.

Community-Driven Mindfulness Metaverse

Launching Eden on the Tripp platform will be an important step in building a community-driven safety experience in the mindful Metaverse, the company said.

Nanea Reeves, founder and CEO of Tripp, said in the announcement, “We are delighted that a growing number of investors are recognizing the need for innovative wellness tools that go beyond traditional meditation apps. With the acquisition of Eden, we One step closer to truly building a mindfulness Metaverse, seeking to build safe spaces for transformative experiences in digital reality, while also enabling creators to join our mission.”

Reeves recently dedicated its mindfulness Metaverse at VentureBeat’s GamesBeat Summit 2022 event.

Tripp’s new funding comes as the need for mental health care is greater than ever. According to the World Health Organization, the pandemic has sparked a 25% increase in the global prevalence of anxiety and depression, and resources to address these psychological problems are becoming increasingly strained.

Tripp’s digital support tool helps users regulate their mental health through a meditative experience.

Pearly Chen, vice president of HTC Vive, said, “Tripp’s innovative platform underscores the unique magic of VR in supporting mindfulness practices for people around the world, and represents an important step toward normalizing the broader discussion about the role of technology in mental health. Proud to be a part of its journey as we work together to build a mindfulness Metaverse and help people around the world connect more deeply with themselves.”

The company said Tripp’s acquisition of Eden’s cross-service world-building technology marks an important milestone — making the mindfulness Metaverse a safe space for users to connect with each other and support each other’s emotional and mental health.

The acquisition will allow users to explore artwork and soundscapes while staying connected with users around the world.

Moritz Baier-Lentz, Partner at Bitkraft Ventures, said, “With over 1 billion people worldwide suffering from depression, anxiety or stress, we hope innovations like Tripp can be part of the solution. In addition to leading in its class There’s a lot to like about what the Nanea and Tripp teams have built beyond a great product. A project with founder-market fit, operational excellence, and an exciting vision with multiple future growth avenues is great Rare.”

Tripp’s business model

Eden marks Tripp’s third acquisition and its second this year, following its January acquisition of EvolVR, the largest virtual reality meditation community. This follows the release of TRIPP’s latest updated mobile app and collaboration with Luminance to develop the next generation of health experience series NFTs.

Tripp has 29 employees and 14 part-time conference leaders who run 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 had a period of great loss and started Tripp after realizing how meditating and playing video games could help her overcome many of life’s challenges. Something that can also help others.

In terms of its business model, Tripp operates a cross-platform consumer subscription service. However, it is currently developing corporate and clinical products that will begin commercialization within the next 12 months.

Tripp offers over 50 mindfulness experiences, with new content being added regularly.

“The Focus and Calm core experience is designed to work at different times of the day, and we’ve updated it to support continued user engagement,” said Reeves. “We’re finalizing a new experience called Drift, which aims to In helping get ready for bed. We’re also expanding into augmented reality in a very exciting way, which is an extension of the VR experience, but will also be unique in mobile AR. We’re building on the Niantic Lightship platform This experience encourages people to connect with the world around them through mindful interactions.”

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