Funding round
Spatial Seed
Spatial, which works in metaverse platform development in New York, raised $8.0M in a Seed round announced on 24 Oct 2018. 3 firms took part. It is Spatial's first venture round on record.
$8.0M
Amount raised
Not disclosed
Post-money valuation
3
Investors
no lead named
Valuation
What this round says about the price
Spatial did not disclose a valuation in this round. It is Spatial's first venture round on record, 1 year after it was founded in 2017. It is 17% of the $47M Spatial has raised in the venture rounds on record. Spatial raised again 15 months later: a Series A round of $14M in Jan 2020.
Investors
Who put money in
3 firms took part; no lead investor was named.
Investors
- Inovia backs 120 venture-backed companies new investor
- backs 46 venture-backed companies new investor
- backs 138 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, sales and marketing, scaling operations and working capital.
- Product development
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
787 Seed rounds in Tech Companies within a year either side disclosed an amount; the median was $2.3M, and this round was 3.6 times the median. The closest in time, other companies' Seed rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 4 Oct 2018 | $9.7M | not disclosed | Multicoin Capital |
| Tech Companies | 1 Oct 2018 | $9.0M | not disclosed | Navitas Capital |
| Tech Companies | 31 Oct 2018 | $7.0M | not disclosed | Sallyport Investments |
| Tech Companies | 30 Oct 2018 | $4.5M | not disclosed | Crosslink Capital |
| Replit Tech Companies | 22 Oct 2018 | $4.5M | not disclosed | Andreessen Horowitz |
| Tech Companies | 18 Oct 2018 | $4.0M | not disclosed | Blumberg Capital and LionBird |
| Tech Companies | 1 Oct 2018 | $4.0M | not disclosed | Elevate Ventures |
| Tech Companies | 4 Oct 2018 | $3.7M | not disclosed | not named |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Spatial raise in its Seed round?
Spatial raised $8.0M in its Seed round, announced in Oct 2018.
Which investors took part in Spatial's Seed round?
Inovia, Expa and Samsung Next.
What was Spatial's valuation at the Seed round?
It was not disclosed.
How does it compare with other Seed rounds in Tech Companies?
787 Seed rounds in Tech Companies within a year either side disclosed an amount; the median was $2.3M, and this round was 3.6 times the median.
Did Spatial raise again after this round?
Yes: a Series A round in Jan 2020 of $14M.