Lumikai Leads Pre-seed Round In New-age Digital Fashion Platform Meta Fashion

Lumikai has led a $400K pre-seed round in Meta Fashion, a digital fashion platform building what it calls the "Zara for the Virtual World." The round also saw participation from Big Bets, the family office of Huuuge Games founder Anton Gauffin, Paytm founder Vijay Shekhar Sharma, NODWIN Gaming founder Akshat Rathee and Masters' Union founder Pratham Mittal.

Founded in 2022 by Arjun Goel, who appeared on Shark Tank, and co-founder Sanjay Goel, a NIFT Delhi alumnus with two exited startups including one acquired by Paytm, Meta Fashion designs digital fashion items for platforms such as Roblox, Fortnite, Grand Theft Auto and ZEPETO. It has sold more than 2.5Mn virtual fashion items on Roblox at a 92% gross margin, and its original Roblox IP, GlamGirls, has crossed 100K paying users organically.

As Roblox's audience ages up and new monetisation surfaces such as real-world commerce and ad-revenue sharing emerge, UGC platforms are becoming home to venture-scale IP businesses, a shift that sits within Lumikai's Systems of Play thesis.

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