Startup Fund Invests in Metaverse Makeovers
$750K investment in wearable tech in holographic appcessories startup, Metaverse Makeovers.
Melbourne Angels has led a syndicated investment of more than $750K in Metaverse Makeovers which includes QUT Creative Enterprise Australia’s (CEA) Creative Enterprise Fund and private investors in China.
Metaverse Makeovers is a leading protagonist in the emerging wearable technologies space. Co-Founder and CEO, Thea Baumann is an internationally acknowledged leader in the creative engagement of augmented reality and is a QUT Alumnus, graduating in 2002. With Metaverse, she is a global front-runner in the sustained monetisation of augmented reality.
Ms Baumann has guided a number of the largest technology companies in the world towards integrated augmented reality and wearable technologies. She has led major artistic digital events and pioneered integration of creative content with leading edge technology to deliver consumer fashion consumables.
“With Melbourne Angels, QUT Creative Enterprise Australia’s Creative Enterprise Fund and Commercialisation Australia’s investment, coupled with their cumulative expertise across the creative industries, manufacturing and the commercialisation of tech in Asia,” said Ms Baumann. “Metaverse Makeovers will receive invaluable guidance in navigating the unique challenges of bringing our wearables to a rapidly growing emerging market.”
“Metaverse Nails are a new wearable technology product which we call ‘appcessories’ as fashion nail accessories that interact with our mobile app. When users scan Metaverse Makeovers fashion nails with our mobile app, interactive 3D holograms appear. The virtual designs can also be shared through social networks.”
“Every street in every city in China is festooned with nail businesses,” said Ms Baumann. “These nail businesses have wifi access, are frequented by young women who are expressive on social media, active game players and mobile consumers. China also has an increasingly mobile-only generation that are active on social chat apps and are seeking new ways to express their individuality amongst their friends. Metaverse Makeovers total addressable market in China is 93 million young women.”
“The wearable tech and augmented reality space is hotting up. The time is right for Metaverse Makeovers, as an interdisciplinary team, to shape the face of this emerging sector and directly position our augmented reality wearables into and onto the hands of a mobile-only generation.”
“Melbourne Angels lead high value-add collaborative investments and Metaverse is exactly the sort of opportunity that Angel investors seek,” said Maurice Grasso, the Melbourne Angels Deal Lead. “This has been validated through the commitment of CEA to co-invest.”
“The Metaverse Makeovers co-founders come with a combination of deep domain knowledge, superior technical expertise, demonstrated experience and international recognition at the highest levels of industry,” said Mr Grasso. “They presented a well-researched opportunity with a very tightly defined target market of early-adopters in China which is more than twice the total population of Australia. The full market potential across Asia is hundreds of millions of consumers.”
“The team have established industry contacts and supplier relationships in China. Melbourne Angels have been able to deliver introductions to Board candidates and key partners in Australia, Hong Kong and China, as well as provide ongoing expert advice from our members who have decades of experience doing business in China.”
Anna Rooke, CEO of the Creative Enterprise Fund said, “Metaverse Makeovers is a great exemplar of the opportunities we want to back and accelerate. A compelling blend of creative innovation and technology-based delivery that makes possible social and commercial outcomes not previously imagined.”
“Our national mandate to advance scalable creative ventures through co-investment underpins our collaboration with Melbourne Angels, one of Australia’s most respected groups of early-stage investors,” said Ms Rooke. “This marks the third investment for the Creative Enterprise Fund which, so far, have all been led by female founders.”
In addition to this investment, Metaverse Makeovers has earned a grant of $262,538 from the Australian Governement.
This venture is a blend of Australian creativity, ingenuity and initiative supported through collaborative investment from leading Australian Angel Investors and the only early-stage investment fund for the creative industries.
Find out more, visit MetaverseMakeovers.com