Invact Metaveristy, an edtech firm co-founded by former Twitter India CEO Manish Maheswari and ex-Microsoft employee Tanay Pratap, has raised $5 million in a seed round from investors including Arkam Ventures, BECO Capital, Antler India, M Venture Partners, Picus Capital, and 2am VC.

The financing comes after Invact Metaversity raised $33 million in its first institutional round from more than 70 global entrepreneurs. Entrepreneurs like as Manipal Group's TV Mohandas Pai, Future Group's Kishore Biyani, Plaksha's Ritesh Malik, and former Facebook India CEO Kirthiga Reddy took part in this round, which was disclosed earlier this month.

Manish Maheshwari, founder and CEO of Invact Metaversity, commented on the latest development, saying, “Metaverse is a concept that stands at a cusp where it will be the lead factor in transforming the educational landscape. We will use this investment to bolster the product and technology team for the Metaversity platform, build a virtual-first curriculum and expand into Europe and the US.”

Maheshwari revealed his ambitions to create the Web 3.0 edtech firm in December 2021 when he announced his intention to stand down as Twitter India's CEO.

At the time, Maheshwari indicated that his company, Invact, will focus on providing employability training using a virtual reality platform called Metaversity.

The firm promises to be the first 3D immersive virtual learning platform in the world. It enables students to communicate with one another and with their professors through animated avatars independent of their actual location.

By enabling students to hang out together in virtual spaces, it facilitates peer-to-peer learning and adds a community layer which had been missing in online learning thus far.