Avatar ecosystem company Genies announces $150M in Series C funding

In General XR News

April 15, 2022 – Genies, a provider of an “avatar ecosystem” consisting of 3D avatars, fashion and collectibles, spaces and venues, and social experiences, has this week announced that it has raised USD $150 million in Series C funding led by Silver Lake, in order to fuel its mission of empowering humans to create their own avatar ecosystems.

According to the company, its “four pillars of an avatar ecosystem” include avatars, fashion, spaces and experiences. The company’s aim is that each of these pillars can be custom designed and created by the owner using the tools that the Genies provides.

Genies was short on details though when it came to its announcement, and stated that while announcing the close of a funding round is normally when companies would enter the spotlight, Genies is instead using this moment to simply let people know, and then wave goodbye.

In a (somewhat cryptic) blog post announcing the funding, Genies CEO and founder, Akash Nigam, said: “What I’ve loved so much about this journey is how diehard the Genies team is about this mission. For us, it’s not about the ‘business,’ not about the ‘career path,’ not about the money. It has been and will always be about the mission. The mission to swing the pendulum back to the founding philosophy of the internet: allow humans to express whatever and whoever they want. To be their true spirits.”

Nigam stated that the financing gives Genies the freedom to allocate 100% of its mindshare to executing and building out the company’s vision, adding that: “Nothing else matters outside of these four walls at Genies HQ. Heads down. Zero distractions.”

It doesn’t seem like there will be many announcements coming from the company for the foreseeable future, with Genies’ CEO stating that the only personnel they plan on talking to are “each other, our avatar ecosystem creators and users, and candidates that want to join the pursuit.”

The company is currently hiring for several positions, from art and animation roles, to positions in the Genies legal team. For more information on the company and its avatar ecosystem, click here.

Image credit: Genies

About the author

Sam Sprigg

Sam is the Founder and Managing Editor of Auganix. With a background in research and report writing, he has been covering XR industry news for the past seven years.