Metaverse studio Karta has secured a $1.1 million investment from players in the music, gaming, sports and finance industries in a funding round led by GameTech Ventures.
Other participants in the round include Amy Thomson, ex-Chief Catalogue Officer to Hipgnosis, global entertainment company Toikido, CEO of Sports Loft Charlie Greenwood, Chairman of UK Finance Robert Wigley, Powster Founder and CEO Ste Thompson and venture studio Big Ideas Group.
Founded in July 2021 by ex-Head of Events at Fnatic, Erik Londré, and music business veteran Tony Barnes, Karta helps brands, artists, and sports teams connect with users of virtual worlds.
Since its startup launch in 2021, Karta has delivered projects on platforms like Roblox, Fortnite, and Decentraland for renowned clients including Amazon Music, Unilever’s Sunsilk, and K-pop girl group TWICE.
These campaigns, which the company claims have reached an audience of over 100 million, have earned Karta several industry awards and a recent shortlisting in the Health & Wellness category at the Cannes Lion Awards for their work with Ronald McDonald House.
Karta recently helped launch the TWICE Square fan experience for K-pop group TWICE via a partnership with Republic Records and JYP Management. TWICE Square currently holds the spot as the #1 music experience on Roblox and ranks third among all branded experiences on the platform in 2023.
Lachlan Gowrie-Smith, Partner at GameTech Ventures, said: “Erik, Tony and the team at Karta are building the very best brand experiences on leading gaming platforms with consistently exceptional results.”
“It was obvious as we navigate the way people engage with music and everyday life now in the metaverse to back a company who are not only building the best spaces I’ve seen there but also planning innovation I think will evolve this into a place we can’t live without.”
Amy Thomson, Hipgnosis’ ex-Chief Catalogue Officer
“By adopting a partnership mindset with a long-term view and a focus on rich experiences and fun for communities of fans, they are pioneering a new medium of deep engagement with consumers. With an experienced and talented team, we’re delighted to be joining their journey with this investment”.
Thomson, one of the new investors, said: “It was obvious as we navigate the way people engage with music and everyday life now in the metaverse to back a company who are not only building the best spaces I’ve seen there but also planning innovation I think will evolve this into a place we can’t live without.”
Karta’s Londré added: “We’re incredibly grateful for the backing and support received so far from some of the most well-respected figures in the industries we work with. They, like us, know the metaverse is the real deal and is delivering real word results that matter. The investment raised is going to be crucial in helping us service the growing demand for metaverse experiences by investing in our team, platform and regional expansions.”
Back in March, Londré highlighted the increasing collaboration between the gaming and music industries, as witnessed in the success of in-game concerts by artists like Marshmello, Travis Scott, Lil Nas X, and Ariana Grande. In 2019, Marshmello hosted the first Fortnite in-game concert.
Music Business Worldwide