September 20, 2023

Fashion Metaverse Startup Geeiq Secures $8.2 Mln in Funding Round

GEEIQ Team

GEEIQ Team

A London-based startup called Geeiq, pronounced “Geek,” has raised $8.2 million in a series A funding round.

The company provides valuable insights into the return on investment (ROI) of investments in virtual worlds and digital goods. Big names such as Gucci, Ralph Lauren, L’Oréal, Tommy Hilfiger, and Karlie Kloss use it.

With about 30 employees, Geeiq plans to use the new investment to expand geographically, including in the US, and hire new talent. The company also aims to develop proprietary relationships with leading platforms. Michel Cassius, who worked at Apple, gaming company Electronic Arts, and Microsoft Xbox, was recently appointed Geeiq’s chair.

The funding round was led by YFM Equity Partners, a specialist in business-to-business software startups, with participation from GFR Fund and FOV Ventures, both of which invest in gaming and metaverse-based startups.

Helen Villiers, the investment director of YFM, said the “exciting market dynamics” make Geeiq an attractive investment opportunity, adding: “People are spending more time gaming, so brands are directing advertising spend there. They need Geeiq to understand the market, data, and return on investment of their advertising spend.”

In 2018, Geeiq was established as a subscription-based platform to provide data on games. This data is derived from publicly available information and includes details like the age, gender, income, and brand affinity of game fans. As a startup, Geeiq belongs to a new class of companies that offer tools to brands expanding into the metaverse and Web3. However, Geeiq stands out for its unique data-based insights that brands can use.

In addition, Geeiq has collaborated with various brands on multiple projects, gaining significant proficiency in Roblox and building strong connections with Roblox creators. Geeiq is now prepared to go beyond the conventional gaming definition and venture into other fields like augmented reality experiences and utilizing digital products in video conferencing platforms. This advancement will lead to AR glasses and more exciting innovations.

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