Inworld, a trailblazing company at the forefront of AI and gaming, has just closed a fundraising round where it raised a further $50 million.
This latest capital infusion – backed by prominent investors such as Lightspeed Venture Partners, Stanford University, First Spark Ventures, Samsung Next, LG Technology Ventures, and existing investors like Microsoft’s M12 fund and Intel Capital – brings Inworld’s total funding to over $120 million since its inception in 2021.
Inworld’s valuation has now soared to half a billion dollars, solidifying its position as the best-funded AI and gaming startup on record.
The announcement of this successful fundraising round was celebrated in a spectacular fashion, with Inworld taking over Nasdaq’s billboard in Times Square—capturing the attention of passersby and the tech community alike. The eye-catching display showcased the company’s soaring success and signalled the magnitude of the achievement.
Inworld’s CEO, in a recent blog post, emphasised the significance of this substantial funding for the company’s future endeavours.
The raised capital will be channelled into accelerating research and development efforts, recruiting top talent, enhancing Inworld’s proprietary Character Engine, expanding infrastructure, and open-sourcing parts of their platform. This latest financial boost provides Inworld with an extended runway to support developers and drive innovation in generative AI for the gaming industry.
Inworld’s commitment to open-source initiatives is reflected in its decision to release parts of its platform to the developer community. The company believes that collaboration is the key to fueling innovation and is eager to contribute back to the community that has supported its growth.
Character Engine has been the foundation of Inworld’s success. Comprising multiple machine learning models, the Character Engine powers multimodal character expression, mimicking human communication with non-verbal cues, emotional intelligence, memory, and autonomous decision-making. Developers have already started leveraging this cutting-edge technology to create immersive gaming experiences.
One notable example of the Character Engine’s impact can be seen in the upcoming release of Cygnus Enterprises by Team Miaozi (NetEase Games). The game features an AI-powered Personal Electronic Assistant (PEA) that adds complexity and humour to the gameplay, showcasing the versatility of Inworld’s technology.
Beyond gaming, Inworld’s Character Engine has also found applications in interactive learning experiences. Companies like Niantic and LG U+ have leveraged the platform to create AI tutors and instructors that provide personalised and engaging educational interactions.
Inworld’s compatibility with various tech stacks has made it a preferred choice among developers. The company’s integrations with game engines like Unity and Unreal Engine – as well as other platforms like Roblox, React, Node.js, C++, and Minecraft – have expanded its reach across different industries.
As the industry continues to evolve, Inworld’s pioneering technology and its unwavering dedication to empowering developers make it a formidable force in the world of AI-driven gaming experiences.
Developers can access Inworld’s open-source components at inworld.ai/open-source.
(Image Credit: Inworld)
Want to learn more about AI and big data from industry leaders? Check out AI & Big Data Expo taking place in Amsterdam, California, and London. The event is co-located with Digital Transformation Week.
Explore other upcoming enterprise technology events and webinars powered by TechForge here.