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November 7, 2022
Google has acquired AI startup Alter in a deal worth around $100 million, as the search giant beefs up its VR and AR capabilities.
Based in New York, Alter developed a software kit that allows brands to develop 3D avatars. The avatars can be used for apps and games with metaverse applications in mind.
The news was reported by TechCrunch; AI Business has contacted Google for comment.
Jon Slimak, Alter's COO, however, updated his LinkedIn as working for Google.
Alter’s $100 million purchase price stands in stark contrast to its fundraise history, which totaled $4.5 million since March 2017, according to Crunchbase.
Notable investors in Alter included Twitter; Play Ventures which also invested in Savage Game Studios before being acquired by PlayStation; and Japanese internet company Gree.
Alter began its life under the name Facemoji with codes to its 3D avatar system available via GitHub.
In early October, Alphabet’s venture capital arm GV led a $12m funding round for VR startup SideQuest.
Ben Wodecki is the Jr. Editor of AI Business, covering a wide range of AI content. Ben joined the team in March 2021 as assistant editor and was promoted to Jr. Editor. He has written for The New Statesman, Intellectual Property Magazine, and The Telegraph India, among others. He holds an MSc in Digital Journalism from Middlesex University.
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