About Passage
Passage is a company based in Winchester (United States) founded in 2022 by Lex Avellino.. Passage has raised $6 million across 1 funding round from investors including Cosmostation, Akash Network and Vitwit. Passage offers products and services including Worldbuilding Tools, Social Tools, and Asset and Plugin Marketplace. Passage operates in a competitive market with competitors including Improbable, Hadean, Gravity Sketch Limited, Xmov and XVERSE, among others.
- Headquarter Winchester, United States
- Founders Lex Avellino
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Sectors
Media & EntertainmentTechnology
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Passage Virtual, Llc
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$6 M (USD)
in 1 rounds
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Latest Funding Round
$6 M (USD), Seed
Jul 27, 2023
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Investors
Cosmostation
& 6 more
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Employee Count
Employee Count
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Products & Services of Passage
Passage offers a comprehensive portfolio of products and services, including Worldbuilding Tools, Social Tools, and Asset and Plugin Marketplace. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
No-code tools for creating customizable virtual worlds and environments.
Features for building and managing online social groups and interactions.
Marketplace for trading virtual assets and plugins for enhanced experiences.
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3d Team
1 people
Product Management Team
1 people
Leadership Team
1 people
Creative and Marketing Team
1 people
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Funding Insights of Passage
Passage has successfully raised a total of $6M through 1 strategic funding round. The most recent funding activity was a Seed round of $6 million completed in July 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Seed — $6.0M
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First Round
First Round
(27 Jul 2023)
- Investors Count 7
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2023 | Amount | Seed - Passage | Valuation | Akash Network |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Passage
Passage has secured backing from 7 investors, including institutional and venture fund investors. Prominent investors backing the company include Cosmostation, Akash Network and Vitwit. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Decentralized blockchain marketplace for cloud computing is operated.
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Founded Year | Domain | Location | |
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Early-stage founders are supported by Druid Ventures for internet innovation.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Passage
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Passage
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Passage Comparisons
Competitors of Passage
Passage operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Improbable, Hadean, Gravity Sketch Limited, Xmov and XVERSE, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Platform offering distributed simulation software for video games and corporate sectors
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| domain | founded_year | HQ Location |
Provider of a metaverse development platform
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| domain | founded_year | HQ Location |
Provider of a 3D sketching tool for VR applications
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| domain | founded_year | HQ Location |
AI-based virtual digital human infrastructure is provided for media applications.
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| domain | founded_year | HQ Location |
AI-powered platform for 3D content generation and display is developed.
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| domain | founded_year | HQ Location |
A platform for creating metaverse experiences is developed.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Passage
Frequently Asked Questions about Passage
When was Passage founded?
Passage was founded in 2022 and raised its 1st funding round 1 year after it was founded.
Where is Passage located?
Passage is headquartered in Winchester, United States. It is registered at Winchester, Virginia, United States.
Who is the current CEO of Passage?
Caleb Applegate is the current CEO of Passage.
Is Passage a funded company?
Passage is a funded company, having raised a total of $6M across 1 funding round to date. The company's 1st funding round was a Seed of $6M, raised on Jul 27, 2023.
What does Passage do?
Developer of a decentralized virtual content creation platform. It lets users integrate 3D video chat, presentations, collaboration, social functionality, and E-commerce into the platform. Its virtual assets can be minted into NFTs that can be interacted with or traded.
Who are the top competitors of Passage?
Passage's top competitors include Improbable, Magnopus and Treasure.
What products or services does Passage offer?
Passage offers Worldbuilding Tools, Social Tools, and Asset and Plugin Marketplace.
Who are Passage's investors?
Passage has 7 investors. Key investors include Cosmostation, Akash Network, Vitwit, Druid Ventures, and HyperChain Capital.