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Infinite Actuality, an “immersive technology” firm mixing digital media and ecommerce by way of prolonged actuality — beforehand referred to as the metaverse — has acquired digital purchasing agency Obsess.
Infinite Actuality mentioned it has a definitive settlement to accumulate Obsess, a premier digital platform that has launched over 400 extremely visible, discovery-driven 3D digital shops and experiences. Phrases weren’t disclosed.
This acquisition comes on the heels of Infinite Actuality’s $3 billion in fundraising introduced earlier this month and marks the primary acquisition for the reason that substantial increase in capital. That deal made folks surprise if the metaverse may not be lifeless in any case.
By means of this acquisition, Infinite Actuality will combine Obsess’s superior expertise and cross-platform distribution capabilities into its product portfolio, increasing iR’s e-commerce options. The addition of Obsess’s proprietary expertise suite, strong management workforce, and spectacular roster of world model and retail shoppers accelerates iR’s goals to uplevel digital experiences, together with ecommerce, by way of XR and AI,
additional positioning the corporate to seize a bigger share of the quickly rising world immersive expertise market.
Based in 2017 by CEO Neha Singh, Obsess rapidly established itself as a market chief in immersive commerce expertise. The corporate’s proprietary platform has remodeled digital retail throughout a number of sectors, together with magnificence, trend, meals and beverage, and media and leisure, powering lots of of subtle 3D storefronts for world manufacturers reminiscent of Ralph Lauren, L’Oréal, Crate & Barrel, e.l.f. Cosmetics, J.Crew and Disney Music Group.
Singh, who brings deep experience as each a former Google software program engineer and the earlier head of product for Vogue, has efficiently launched and scaled a number of internet and cellular merchandise reaching hundreds of thousands of customers, driving vital viewers and income development. She joins Infinite Actuality as Chief Innovation Officer and can proceed to develop new merchandise that reimagine how manufacturers work together with shoppers on-line.
“Obsess’s stellar track record of building successful 3D virtual stores for major brands is a testament to the incredible opportunity ahead,” mentioned John Acunto, cofounder and CEO of Infinite Actuality, in a assertion. “Neha and her brilliant team share our vision to upgrade the ancient 2D web grid to improve ecommerce KPIs for our clients, and delight their customers with more engaging, dynamic, and personalized experiences.”
Infinite Actuality’s imaginative and prescient of enabling accessible, device-agnostic immersive experiences aligns completely with Obsess’s demonstrated capacity to deploy model tasks throughout a number of platforms – from internet browsers to video games reminiscent of Roblox to next-generation units just like the Apple Imaginative and prescient Professional and Meta Quest. And thru its proprietary CMS with superior 3D enhancing and rendering expertise, Obsess brings highly effective branded interactive shops to life. These capabilities, mixed with iR Studio, Infinite Actuality’s low-code and no-code SaaS resolution, and Infinite Actuality Enterprise, iR’s end-to-end immersive providers company, lay a robust basis to outfit manufacturers and creators with intuitive instruments to construct, monetize, and successfully measure immersive experiences, all whereas proudly owning all their information.
“Obsess was founded on the belief that it was time to reinvent the outdated e-commerce experience,” mentioned Neha Singh, founder and CEO of Obsess, in an announcement. “We have built a platform that creates the next generation consumer interface with visually dynamic and interactive experiences that are highly engaging and feel alive. As a part of Infinite Reality, we are doubling down on our mission to supercharge consumer engagement with immersive brand storytelling.”
“Our aggressive growth strategy is laser-focused on leading the future of immersive technology with the most powerful and complete platform for software, content, and services. Bringing Obsess and Neha’s incredible team onboard supercharges our trajectory,” mentioned Amish Shah, cofounder and Chief Enterprise Officer of Infinite Actuality, in an announcement. “With their visionary talent joining the iR family, we are not just changing the game – we are creating an entirely new playbook for what’s possible in this space.”
Obsess marks Infinite Actuality’s first acquisition of 2025, constructing on the corporate’s momentum following a number of strategic acquisitions in 2024 totaling roughly $800 million. Obsess will keep operations in New York, additional strengthening iR’s presence in a key market whereas increasing the corporate’s rising suite of AI and immersive expertise options for shoppers worldwide.
Obsess provides about 52 folks to Infinite Actuality, which now has 319 folks. Lately, Infinite Actuality signed a five-year take care of Google Cloud to host immersive digital experiences utilizing AI and spatial computing.
Infinite Actuality additionally paid $450 million for Dubai-based Landvault (now iR Enterprise) which has constructed over 1.2 million sq. ft of digital experiences for numerous high-profile manufacturers together with Mastercard, Customary Chartered, Hershey, a Cannes Lion-winning Heineken marketing campaign with Dentsu, groundbreaking activations with Hershey in Decentraland, and the revolutionary World of Ladies expertise in The Sandbox.
It additionally closed a number of acquisitions, together with the $250 million acquisition of the Drone Racing League, the $75 million buy of Ethereal Engine, Motion Face, and Stakes. These offers strengthened iR’s capabilities in pc imaginative and prescient and spatial internet expertise, gaming, robotics, and extra.
And it continued work with Warner Bros. Discovery Sports activities, together with the launch of the FIM SGP-VERSE app, the world’s first socially interactive and totally immersive speedway expertise with options reminiscent of customizable digicam streams, an unique pit reporter feed and on-demand video content material. Infinite Actuality continues to work with Pairpoint, a Vodafone and Sumitomo Firm. Their work was on full show in Dubai at GITEX International 2024, the world’s largest tech and startup occasion.
