Tween Virtual World spins off from Tribal Nova and raises $3 Million

Posted by Rob Lewis

Woozworld, a virtual world for tweens, has scored $3 Million in Series A financing round and will be spinning off from virtual world developer Montreal-based Tribal Nova, which incubated and launched Woozworld in December 2009.

Woozworld claims over 350,000 members and one million user-generated virtual spaces (up from about 50 at the end of last year). Woozworld says it intends to continue developing and promoting its Web 2.0 virtual world where tween users build an entire world where they can engage with their peers, design their own virtual spaces, set up the activities they choose and even manage their own businesses.

With the new funding round was led by iNovia Capital and ID Capital, a division of Telesystem Group. Chris Arsenault of iNovia Capital and Daniel Cyr of ID Capital will be joining the spin-off’s Board of Directors.

This time last year Tribal Nova closed a $3 Million growth financing round from the same two venture capital firms to launch virtual worlds - looks like the funds have been working hard over the past year.

Company:
iNovia Capital
Website:
http://www.inovia.vc
Location:
Montréal, Québec, Canada

iNovia partners with exceptional entrepreneurs to build successful companies in high-growth sectors. The team is comprised of entrepreneurs and sector experts focused on Mobile, Internet and Digital Media. iNovia has offices in Montreal, New York City and Calgary and invests across North America. iNovia has $275M under management across three seed and early-­stage funds. For more information, visit www.inovia.vc... more

Company:
Tribal Nova
Website:
http://www.tribalnova.com
Location:
Montréal, Québec, Canada

Tribal Nova is a business leader in the development and exploitation of interactive content, virtual video games and video-on-demand environments for children 3 to 12. Our products are developed in close collaboration with several industries including media, entertainment, new media, Internet providers, and Internet portals. Our expertise lies in the design and distribution of interactive environments in relation... more

Company:
telesystem
Website:
http://www.telesystem.ca
Location:
Montréal, Québec, Canada

Over the past 20 years, telesystem and its professional teams made venture capital investments exceeding $1.5 billion. Each of these teams has developed their own investment competence, while at the same time enjoying access to the extensive network of knowledge, contacts and expertise within the group. Being inveterate entrepreneurs, telesystem understands well the process of value creation for high technology... more

Company:
Woozworld
Website:
http://www.woozworld.com
Location:
Montréal, Québec, Canada

Woozworld Inc. is a developer and operator of virtual worlds. A recent spin-off from Tribal Nova Inc, the company markets and operates Woozworld.com, an innovative global web 2.0 virtual world for tweens that is built and led by its users. Its unique environment evolves continuously and allows users to create space, run activities and do business among countless other things. The company has a highly experienced... more


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Rob Lewis

Rob Lewis

Rob is the President of Techvibes Media and Editor-in-Chief of Techvibes.com.  His diverse background includes stints in International Trade Finance, Web Development, and Enterprise Software and he is a graduate of the University of British Columbia, British Columbia Institute of Technology, and Simon Fraser University. When not running Canada's leading technology media property, Rob can be... more



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