Avataar.me raises $7 million from Sequoia India, Know-how Information, ETtech
Avataar.me, a 3D and Augmented Actuality software program that helps enterprise clients create immersive buying experiences for end-users, has raised $7 million from Sequoia Capital India.
Avataar’s know-how goals to bridge the hole between offline and on-line experiences by changing the present 2D visuals with life-size and hyper-realistic 3D prolonged actuality/augmented actuality experiences, in keeping with the corporate.
Avataar brings spatial depth to the onscreen shopping for expertise – delivering life-like photo-realism, cell responsiveness, interactivity and personalization, it mentioned.
The startup, based in 2016 Prashanth Aluru, Sravanth Aluru, Gaurav Baid and Mayank Tiwari, spent 4 years creating their know-how IP and launched commercially final yr.
“AR/VR has proven sturdy emotional join with GenZ and youthful millennial customers, a phase that manufacturers have struggled to have interaction with in recent times and a phase that has much more spending energy in the present day than they did 5 years in the past,” mentioned Sravanth Aluru, CEO of Avataar.me.
There are over 10 US patents behind Avataar’s plug and play platform, and the contemporary funds can be deployed in direction of analysis and improvement initiatives, it mentioned.
“In 2019, greater than 300 million customers had been actively utilizing AR. Spends on AR instruments for creating social engagement for manufacturers together with ‘try-before-you-buy’ experiences is anticipated to develop 10X by 2023. Undoubtedly, the time for AR/VR is now, with ecommerce being one of many broadest purposes,” mentioned Shailesh Lakhani, managing director, Sequoia Capital India.
With bodily footfalls muted by the Covid-19 outbreak, Avataar has seen increased demand, pushed by digital and bodily commerce industries investing extra in digital and contact-less client buy experiences. Subsequent yr, Avataar is trying to enter different main AR markets such because the UK, Germany and Japan, the corporate mentioned.