PatchXR welcomes first institutional investor

The metaverse is growing with even more possibilities. The PatchXR platform enables users to create their own instruments, VR world and record full-immersion live shows. The recent investments from its first venture capital firm, Serpentine Ventures and other investors will support the company to launch its platform on the meta-store this year.

Incorporated in December 2020 by Mélodie Mousset (artistic director) and Edo Fouilloux (director), PatchXR is on the mission to bring visual, immersive and interactive music to the metaverse enabling all creators from amateurs to professionals to exploit their talents. The startup offers a platform with which ‘patchers’ can Studio quality electronic instruments using the company’s proprietary music engine, saving both money and space for aspiring musicians. At release, the platform will come with 3 premium musical worlds, 50+ original instruments, and a variety of user-generated content.

Nonprofessional artists and producers can access the instruments to create and host immersive and interactive music in the virtual world (see videos). “Until now, this segment of artists has no access to the metaverse, and with our solution, we want to democratise the market and open up possibilities for the creator economy”, explained Melodie Mousset, co-founder of PatchXR.

Currently, in a closed beta phase with 500 creators, PatchXR is planning to launch its full software on Oculus in the third quarter of 2022.  In addition to a grant from a renowned undisclosed company supporting the platform development, PatchXR has attracted new investment as part of its pre-seed round.

Serpentine Ventures joined business angels and private investors in the round. In their blog, Serpentine explains its motivation to invest in PatchXR: “We believe that with the growing adoption of VR, this startup will become the go-to music platform in the metaverse. Further, we see high potential in the future marketplace, where one can trade instruments, concert tickets and more.”

With headquarters in Volketswil, Zurich and a subsidiary in Copenhagen, PatchXR has a multinational team comprising of 12 working award-winning artists, designers, engineers, musicians, and explorers blending cultures and talents to harness immersive technology for the imagination.  The round of investment will enable the company to add key hires to finish multiplayer, add multi-platform support and release to market to a community of players and makers in the Metaverse, to create together a new form of interactive media.