Avatar startup Genies hits $ 1 billion valuation in latest fundraise
Genies, an LA-based digital celebrity avatar startup, on April 12 announced that it had raised $ 150 million in funding from Silver Lake, with participation from Bond, NEA and Tamarack Global, TechCrunch reported. This comes after a $ 65 million Series B round in May 2021. Notably, the startup gained momentum through high-profile partnerships with musicians and athletes, who use Genies’ avatars for social media posts and other activations. The funding round comes on high investor expectations for the company. Growth will depend on bringing in more developers to their ecosystem and expanding the user base. Read more here
