Improbable

Improbable is a British venture builder and deep-technology company developing businesses and infrastructure across artificial intelligence, Web3 and large-scale virtual worlds. Founded in 2012 by Herman Narula, Rob Whitehead and Peter Lipka, the company emerged from the University of Cambridge with an initial focus on distributed systems for complex simulated environments.

Its early platform, SpatialOS, provided cloud infrastructure for multiplayer games and computational simulations. That work established a technical foundation in distributed computing, networking and the coordination of shared digital environments. The company subsequently expanded into game development and defence simulation before redirecting its business toward virtual-world infrastructure and frontier technology ventures.

Platforms and venture building

Improbable’s virtual-world technology centers on MSquared, a platform designed to support large numbers of participants in shared 3D environments. Its associated Metaverse Markup Language supports interoperability and the creation of interactive content. Applications include Yuga Labs’ Otherside experiences and Major League Baseball’s virtual ballpark, connecting the company’s infrastructure with entertainment, sports and live digital experiences.

Alongside platform development, Improbable co-founds, funds and helps scale technology businesses. Its venture-building model combines technical development with operational support, including executive advisory, go-to-market execution, finance, human resources, legal and compliance functions. The portfolio described in its research spans blockchain infrastructure, AI-powered business automation and decentralized finance, including ventures such as Bolter, Otomato, fan3 and Kallikor. Somnia originated within the MSquared ecosystem and subsequently became an operationally independent foundation.

Evolution of the business

A series of divestitures reshaped Improbable’s activities. It sold Inflexion Games to Tencent in February 2022, divested its defence simulation business as Skyral in June 2023, and sold The Multiplayer Group to Keywords Studios in December 2023. These transactions marked a move away from first-party game development and national security contracting.

Today, the London-headquartered company combines infrastructure engineering with venture incubation, concentrating on the intersection of AI, decentralized networks and persistent virtual environments.