Quick shot:

• Unlikely is one of the builders in Yuga Labs’ Otherside metaverse.
• The company’s CEO, Herman Narula, said it is close to “achieving profitability.”
• Narula said the company sold its game studios in Seattle and Canada this year.

Metaverse tech startup Improbable is closing in on $100 million in new funding, according to a report in the Financial Times. This despite the company posting its biggest loss in 2021.

The company posted a loss of £152 million ($173 million) in 2021, according to a snapshot of accounts the company shared with the Financial Times. This means that the capital it has raised from investors since its launch in 2012 has almost dried up, as the company only had £57m ($65m) in the bank at the end of 2021.

In April, Improbable completed a…