Quick take:
- Tripp has completed an $11.2 million round from Bitkraft Ventures, Amazon Alexa Fund, Qualcomm, HTC, Niantic and Mayfield.
- The company will use the funds to scale the reach of its extended reality (XR) app globally.
- Tripp is trying to address the growing global demand for mental wellbeing.
Extended reality (XR) wellness app Tripp has announced the successful completion of an $11.2 million fundraising from Bitkraft Ventures, Amazon Alexa Fund, Qualcomm, HTC, Niantic and Mayfield. The company plans to use the funds to scale the global reach of its mental wellness program.
Tripp is tapping onto the rapid adoption of the metaverse to help more people around the globe access its services. The XR wellness can be accessed through augmented reality (AR), virtual reality (VR), and a mobile application.
The company says it will continue to create the meditation apps that power the “mindful metaverse”.
The fundraising comes at the back of Tripp’s acquisition of Eden, a world-building platform created by BirdsEye. The company thinks that by leveraging Eden’s technology, it can create a platform that allows “users to further customize their Tripp experience, explore digital realities and meet other people.”
Launching Eden on Tripp is a major step towards building safe, community-driven experiences in the mindful metaverse, the company said.
Commenting on the opportunities and synergies that could emerge from the acquisition, Nanea Reeves, founder and CEO of Tripp said: “We’re grateful that more and more investors are recognizing the need for innovative wellness tools that expand beyond traditional meditation apps.”
“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 added.
Mental healthcare has received a significant increase in demand recently, amid the pandemic period, which necessitated the implementation of country lockdowns.
Data by World Health Organisation (WHO) indicates that the pandemic triggered a 25% increase in anxiety and depression worldwide. Therefore, with resources to address the problem increasingly becoming limited, Tripp could be a welcomed solution with its digital support tools helping 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., adding that his company was proud to be part of the journey as “we work together to build out the mindful metaverse and help people everywhere foster a deeper connection with themselves.”
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