April 16, 2018 2:36 pm
(TechCrunch) vTime has just closed a $7.6 million Series A round. This latest bout of funding was led by Deepbridge Capital with participation from MSIF. The vTime app allows groups of up to four users to jump into VR and talk in a private chat room. Users can customize an avatar and select a 3D environment to host the chat inside. Unlike other platforms, vTime seems to be focusing entirely on promoting discussions rather than the shared social gaming experiences.
vTime is in the fairly undesirable position of competing directly with Facebook in the social VR space, the experience of the starup’s app has been copied quite closely in the product Facebook Spaces, where groups of up to four users can meet up and chat. “Our horizon is set very differently to what Facebook is probably thinking about,” said Wangerin. “I think there’s plenty of green space for us to follow our own path.”