TRIPP, a developer creating VR meditation experiences, announced it’s secured $11.2 million funding round which it says will be used to expand so it can meet growing global demand for mental wellbeing apps accessible through AR, VR and mobile platforms.
The Series A was led by BITKRAFT Ventures, with participation from Qualcomm, Amazon Alexa Fund, HTC, Niantic and existing investor Mayfield. This brings the Los Angeles-based company’s funding to $26.3 million to date, adding to an $11 million funding round announced in June 2021.
The company says funds will be used to expand its team in addition to supporting the acquisition of VR worldbuilding platform Eden from BeardedEye, creators of the Galactic Gallery (2017) VR experience.
TRIPP says Eden, which is its third acquisition, will also soon launch on its eponymous VR platform, which the company says will enable users to further “customize their TRIPP experience, explore digital realities and meet other people.”
“With over one billion people globally suffering from depression, anxiety, or stress, we’re hopeful that innovations like TRIPP can be a part of the solution,” said Moritz Baier-Lentz, partner at BITKRAFT Ventures. “Beyond a great product that is already a leader in its category, there was a lot to like about what Nanea and the TRIPP team have built. It’s rare to find such a combination of authentic founder-market fit, operational excellence, and an exciting vision with many avenues for future growth.”
“We’re grateful that more and more investors are recognizing the need for innovative wellness tools that expand beyond traditional meditation apps,” said Nanea Reeves, founder and CEO of TRIPP. “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.”
TRIPP is available across a host of devices, including Meta Quest 2, Vive Flow, PSVR, Nreal, and both the Web and mobile platforms. The app features guided meditations, calming environments, binaural audio for meditation, breathing exercises, and the ability to track your progress. The app is priced at either $5 per month, or $35 for lifetime access.
