Former Twitter India head Manish Maheshwari’s startup Invact Metaversity is considering winding down operations

Founded by Maheshwari and Tanay Pratap, Invact was building immersive educational courses in the emerging metaverse ecosystem, with an aim to revolutionise the learning experience.

In February,
Invact had closed a $5 million seed round led by Arkam Ventures. It also raised funds from over 70 global prominent investors including tech giants like Google, Microsoft and Meta.

Both Maheshwari and Pratap had lately been engaged in conflicts over the company vision, which the former acknowledged in his tweet.

The company is currently exploring multiple options including cutting its cash burn, pivoting to another idea, letting one of the founders run the startup or even returning unspent capital back to its investors, Maheshwari said on Twitter.

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“We are now standing at crossroads exploring possibilities such as (a) cutting the burn rate and pivoting to another idea, (b) letting one of the founders take full charge, or (c) returning the unspent capital to investors.”

The company will be returning the amount paid by students, who were set to be a part of the first cohort.