Improbable

What Improbable does

Improbable is a London-headquartered technology venture builder, founded in 2012, that creates and scales companies at the intersection of AI, Web3, and metaverse technologies. Following a strategic pivot in Q3 2023 from a single-product metaverse platform to a multi-venture builder model, the company operates a portfolio of ventures that share underlying proprietary infrastructure — most notably MSquared (a network of interoperable metaverse environments), Morpheus (a simulation engine), and Somnia (an AI-native Layer-1 blockchain that launched its mainnet in September 2025). The portfolio spans AI-enabled supply chain simulation (Kallikor), AI-driven private equity transformation (Roju), AI agent tooling on Somnia, DeFi AI alerting (Otomato), and metaverse experiences developed for enterprise clients.

The company serves enterprise customers across entertainment, sports, and media — including MLB, Yuga Labs, BBC Philharmonic, JYP Entertainment (Twice), AleXa, and Bethesda — primarily through technology licensing, platform usage, and bespoke development engagements. Revenue is generated through a mix of enterprise licensing deals, platform fees, blockchain transaction revenue, and exits from portfolio ventures. Total disclosed exits exceed $179M, and the company reported revenue of £66M in FY2023 and £10M in FY2024, with £162.8M in cash at year-end 2024 and a reported valuation of £2.5B as of November 2025. Headcount stands at approximately 650 post-transformation.

The business model rests on a venture builder thesis: Improbable incubates technology ventures using shared proprietary infrastructure, takes equity stakes, and monetizes through a combination of licensing fees, minority investments, venture exits, and on-chain transaction revenue from Somnia. Following the December 2025 divestiture of the Imporium consumer metaverse platform to Yuga Labs, the company is sharpening its focus on AI and Web3 infrastructure as core monetization pillars. Leadership relocated to the UAE in late 2025, with the Dubai market positioned as a strategic operational hub.

Name

Improbable

Legal name

Improbable Worlds Limited

Website

https://improbable.io

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

101–250 employees

Short description

Improbable is a London-founded venture builder that creates and scales AI, Web3, and metaverse companies using shared proprietary infrastructure including MSquared, Morpheus, and Somnia blockchain, serving enterprise clients in entertainment, sports, and media.

Ownership category

akta.pro rank

Product category

Metaverse Infrastructure

NAICS

Software Publishers (5132)

SIC

Services-Computer Integrated Systems Design (7373)

akta.pro primary industry

Metaverse & Social Virtual Worlds (BPAMAKAF)

akta.pro secondary industries

Blockchain Game Studios & Game Development (FSAPAGAC), On-Chain Game Engines & Developer Tooling (SDKs, APIs, Unity/Unreal plugins) (FSAPAGAB), Metaverse Commerce & Monetization (virtual goods storefronts, payments, ads) (FSAPAGAK), Interoperability & Asset Bridging for Games (cross-game/cross-chain assets) (FSAPAGAJ), Virtual Sports & Esports Live Events (Broadcast + Interactive Viewing) (MPAGAOAH), Player Wallets, Identity & Accounts for Games (embedded wallets, SSO, DID) (FSAPAGAF)

Keywords

• Metaverse infrastructure
• Venture building services
• Distributed simulation technology
• Blockchain platform
• Virtual world development

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Infrastructure, Operations, Marketing or Sales

Revenue model

1. Venture Building — Equity Stakes: Improbable builds ventures internally and invests in founders, taking equity stakes. Portfolio companies include Somnia, MSquared, Jitter, Chamber, Kallikor, Imporium, fan3, Otomato, Roju. Successful exits generate returns. Revenues for FY24 were £10 million consolidated into group accounts.
2. Technology Licensing — MSquared & Morpheus: Licensing of proprietary metaverse infrastructure (MSquared, Morpheus technology) to external developers and platforms. Includes Otherside Development Kit (ODK) for third-party creators to build on MSquared.
3. Branded Virtual Experiences — MLB and Partners: Custom development of branded virtual worlds and immersive experiences for sports leagues, entertainment companies, and brands. MLB Virtual Ballpark, Otherside metaverse development, virtual concerts. Revenue recognized through service contracts and ongoing platform fees.
4. Somnia Blockchain — Transaction & Gas Fees: Somnia layer-1 blockchain generates revenue through transaction fees and gas fees. With sub-cent fees and millions of TPS capacity, fees accumulate from gaming, DeFi, social, and metaverse applications running on-chain. Testnet surpassed 2 billion transactions before mainnet launch.
5. Venture Exits — Divestitures and Sales: Improbable exits ventures through trade sales. Exits include Imporium to Yuga Labs (December 2025), Inflexion Games to Tencent (February 2022), Midwinter Entertainment to Behaviour Interactive (May 2022), MPG games services business (end of 2023), and defence business to NOIA Capital (June 2023). Total exits exceeding $179 million.
6. Ongoing Technology License — Imporium/Yuga Labs: Yuga Labs acquired Imporium and also received an ongoing license to Improbable's metaverse technology in support of the Otherside metaverse, continuing to use MSquared open standards and interoperability framework.

Pricing tiers

Go-to-market motion3 records

Distribution channels10 records

Marketing channels8 records

Core offering

Improbable is a venture builder that creates and grows companies across AI, Web3 and the metaverse, supplying founders with capital, operational support (finance, HR, legal, compliance, go-to-market), and proprietary technology platforms including the MSquared (M²) interoperable metaverse network, the Morpheus distributed-systems technology, and the Somnia high-throughput Layer 1 blockchain. It also licenses these technology platforms directly to enterprises, sports leagues and entertainment brands for branded virtual experiences such as MLB Virtual Ballpark, Otherside (Yuga Labs) and BBC Philharmonic metaverse concerts.

Product overview

Improbable operates as a venture builder focused on AI, Web3, and the metaverse. The company's core offering is a portfolio of venture companies built on shared technology infrastructure. The primary technology platform is MSquared (M²), which provides the foundational layer for building scalable, interoperable virtual worlds. Somnia, a high-performance Layer 1 blockchain, serves as the infrastructure backbone for AI agents and real-time decentralized applications. Additional ventures include Edison (massively multiplayer events), fan3 (fan engagement), Kallikor (supply chain AI simulation), Jitter (interactive streaming), Imporium (virtual entertainment studio), Chamber (virtual events), Otomato (DeFi intelligence), and Roju (PE AI transformation). These ventures are supported by core technologies including Morpheus technology, MML (Metaverse Markup Language), and SpatialOS distributed simulation platform.

Differentiator

Problem solved

Functional benefit

Products and services

• MSquared (M²)

Quantifiable outcome

• Somnia blockchain processes over 1 million TPS (record-breaking Devnet performance)
• +6 more outcomes

Named customers7 records

Segments7 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

AI capability12 records

Feature8 records

Partnerships

Nine partnerships are on record, tiered major, core and flagship.

• Royal Shakespeare Company (RSC)majorStrategic or Co-development Partner · 1 November 2025Improbable collaborated as executive producer on the Royal Shakespeare Company's West End production of 'My Neighbor Totoro' in London (Gillian Lynne Theatre). Production opened approximately first anniversary. Collaboration involves Joe Hisaishi, Nippon TV, and Improbable as executive producer. Based on Miyazaki Hayao's 1988 animated film.
• BitGo and FireblockscoreTechnology or Integration · 1 September 2025BitGo and Fireblocks partnered with Somnia during its testnet phase to strengthen custody, wallet infrastructure, and security capabilities for mainnet launch. These partnerships provide institutional-grade infrastructure for Somnia's high-performance blockchain supporting gaming, social, and DeFi applications.
• OpenSea, LayerZero, Sequence, Ankr, DIA, ThirdwebcoreTechnology or Integration · 1 September 2025Somnia integrated with major Web3 ecosystem tools at mainnet launch: OpenSea (NFT marketplace), LayerZero (cross-chain messaging), Sequence (wallet infrastructure), Ankr (RPC infrastructure), DIA (decentralized data oracles), and Thirdweb (developer tools). These integrations extend Somnia's reach to existing developer bases across the EVM ecosystem and enable seamless migration of dApps to Somnia's high-throughput chain.
• Somnia FoundationflagshipStrategic or Co-development Partner · 1 February 2025Somnia Foundation is an independent entity established by MSquared to develop and steward the Somnia blockchain as open, public infrastructure. Improbable built Somnia under contract for the Foundation. The Foundation manages grants, ecosystem growth, and blockchain governance. It has committed significant investment ($270M+ total ecosystem) and onboarded 60+ validators at mainnet launch. Somnia reached peak valuation of $1.9 billion under Foundation leadership.
• Google CloudcoreTechnology or Integration · 1 February 2025Google Cloud partnered with Somnia during its testnet phase to strengthen scalability, security, and developer capabilities for mainnet launch. Collaboration brings Google Cloud's leading security expertise and infrastructure to the Somnia blockchain ecosystem, supporting AI-powered NPCs and Web3 infrastructure. Somnia's collaboration with Google Cloud was announced as part of its testnet milestone achievements in February 2025.
• BBC Philharmonic OrchestramajorStrategic or Co-development Partner · 1 November 2024BBC Philharmonic Orchestra collaborated with Improbable's MSquared platform for a groundbreaking virtual concert on November 23, 2024, as part of the MAX-R consortium. Concert featured game soundtracks from God of War, Baldur's Gate, and Fortnite. MSquared provided MILEs (Massively Interactive Live Events) technology for the event. Eímear Noone conducted as the first-ever motion-captured conductor in the metaverse. The concert simultaneously reached in-person and metaverse audiences.
• Major League Baseball (MLB)flagshipStrategic or Co-development Partner · 1 July 2023Improbable developed MLB's Virtual Ballpark — the first professional sports league to own a virtual world. Powered by Morpheus technology and M² network, the Virtual Ballpark allows baseball fans globally to watch games together, interact with voice chat, and purchase virtual merchandise. Partnership extended through September 2024 season with weekly virtual watch parties. MLB's core digital products and virtual shop integrated into the virtual ballpark. The partnership demonstrates mass-consumer metaverse adoption in sports entertainment.
• Animoca BrandsmajorStrategic or Co-development Partner · 1 January 2023Animoca Brands partnered with Yuga Labs and Improbable on the Otherside metaverse, providing strategic support and investment to the platform. Animoca Brands is a major Web3 gaming investor with extensive portfolio of blockchain gaming and NFT companies.
• Yuga LabsflagshipStrategic or Co-development Partner · 1 January 2022Yuga Labs partnered with Improbable to build the Otherside metaverse on MSquared/M² technology. Imporium, an Improbable venture, served as core contributor to Otherside Unreal experiences. In December 2025, Yuga Labs acquired Imporium from Improbable and received an ongoing license to Improbable's metaverse technology. Yuga Labs returned in May 2023 for a metaverse town hall and revealed Otherside would be built on MSquared with new creator tools (Otherside Development Kit). The relationship encompasses co-development of metaverse infrastructure, virtual world interoperability, and digital asset integration.

Scale indicators22 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Roblox Corporation: Massively multiplayer virtual worlds platform with deep user-generated content and creator economy. Competes for metaverse mindshare, developer talent, and brand partnerships targeting Gen Z audiences.
• MultiversX (formerly Elrond): High-throughput EVM-compatible Layer 1 blockchain that led Improbable's $100M round in October 2022. Competes head-to-head with Somnia in the high-throughput L1 space and has overlapping gaming/Web3 focus.
• Animoca Brands: Web3 gaming and metaverse investor-operator with portfolio including The Sandbox, REVV Motorsport, and direct participation in Yuga Labs' Otherside. Competes for blockchain gaming capital allocation and venture builder economics.
• Decentraland: Ethereum-based decentralized virtual world with LAND parcels and MANA token economy. Competes for blockchain-based metaverse user engagement and creator monetization.
• Unity Software: Real-time 3D development platform widely used for game engines and emerging metaverse/industrial applications. Competes for developer mindshare and provides overlapping tools for large-scale multiplayer experiences.
• Yuga Labs: Operates Otherside, a Web3-native metaverse built on MSquared/Morpheus. Improbable's most strategic partner and customer; acquired Improbable's Imporium venture in Dec 2025. Direct overlap in virtual world infrastructure and NFT-based digital identity.
• The Sandbox: Decentralized virtual world where players build, own, and monetize gaming experiences on blockchain. Direct competitor in metaverse platform infrastructure and Web3-native virtual world tooling.
• Polygon Labs: Ethereum L2 scaling ecosystem with Polygon PoS, zkEVM, and Polygon Miden — competing high-throughput EVM-compatible infrastructure for gaming and Web3 applications targeted by Somnia.

Broad incumbents

• Epic Games: Creator of Unreal Engine, the dominant 3D engine used by Improbable's Imporium (now Yuga Labs) and metaverse platforms broadly. Incumbent competitor across virtual world creation tooling and a possible MSquared alternative stack.

Emerging players

• Forte (now part of Sequence): Web3 gaming infrastructure platform providing wallet, payment, and tokenization tools — directly integrated with Somnia at launch as an ecosystem partner. Emerging peer in blockchain gaming back-end tooling.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/Improbableio
• Facebookfacebook.com/Improbableio
• LinkedInlinkedin.com/company/improbable
• Instagraminstagram.com/improbableio

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries9 records

Funding overview

Funding rounds7 records

Investors24 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments5 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Improbable