Emperia raises £8.1m to unlock new frontier for virtual retail

Immersive virtual retail pioneer Emperia has raised a $10m Series A round to supercharge the capabilities of its groundbreaking virtual retail platform and bring “metaverse e-commerce” to new international markets and retail sectors.

Launched by fashion and retail expert Olga Dogadkina and VR innovation expert Simonas Holcmann in 2019, Emperia has developed a platform which powers the creation of immersive virtual experiences for brands across multiple retail sectors.

These virtual spaces enhance omnichannel retail strategies by creating new digital touchpoints that drive engagement and increase sales. Crucially, the virtual worlds made possible by Emperia are powerful drivers of revenue.

The platform has driven increased conversion rates for its brand partners by an average of 73 per cent (vs. regular e-commerce websites) since its inception in 2019, with an average ROI of 750 per cent. Globally, more than $120 bn was invested in metaverse technologies in the first five months of 2022, with 79 per cent of consumers active in the metaverse making a purchase whilst there.

Emperia is already partnering with globally-renowned retail powerhouses including Bloomingdales, Dior and Lacoste, as best-in-class retailers look to cultivate impactful, on-brand experiences and bring a powerful new dimension to online retail, transforming the future of shopping for digital natives.

Emperia will use this fresh funding to grow its team, supercharge its virtual store SaaS platform and deepen the capabilities of the data suite that powers it; accelerating Emperia’s global market presence and consolidating its position as the future of immersive, experiential retail and entertainment.

Emperia will also work with partners to bring various global virtual e-commerce solutions under one roof; leveraging the fast-growing Web3 ecosystem and its partners’ unique brand and retail technologies to deliver game-changing customer experiences.

Olga Dogadkina, CEO and co-founder at Emperia, comments: “While working in fashion, it became clear to me that e-commerce was the future, but 2D websites were merely a tool that enabled an online purchase, but were lacking the customer journey and story-telling that brands are after. The solution was to bridge that gap, with the aim of making virtual experiences into the future of brands’ long-term e-commerce strategy.

“We are strong believers in data-reliance and as such all our virtual experiences are developed incorporating analytics, which is reflected in layout, design, user experience and merchandise placement. Crucially, we’re doing this in a way that has a demonstrable impact on sales, traffic, engagement and brand perception.

“I’m confident that the pool of participating investors in this round, from both the U.S and Europe, will make for a great network of advisors as Emperia continues its global expansion, pioneering e-commerce’s next generation. I’m looking forward to delivering an even more impactful experience for our brand partners.”

By Mark Adair – Correspondent, Bdaily