April 30, 2021

Sequoia Capital India: Avataar.me raises $7 million from Sequoia India

Avataar.me, a 3D and Augmented Actuality software program that helps enterprise prospects create immersive purchasing experiences for end-users, has raised $7 million from Sequoia Capital India.

Avataar’s expertise 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 accordance with the corporate.

Avataar brings spatial depth to the onscreen shopping for expertise – delivering life-like photo-realism, cellular responsiveness, interactivity and personalization, it stated.

The startup, based in 2016 Prashanth Aluru, Sravanth Aluru, Gaurav Baid and Mayank Tiwari, spent 4 years creating their expertise IP and launched commercially final 12 months.

“AR/VR has proven robust emotional join with GenZ and youthful millennial shoppers, a section that manufacturers have struggled to have interaction with lately and a section that has way more spending energy immediately than they did 5 years in the past,” stated Sravanth Aluru, CEO of Avataar.me.

There are over 10 US patents behind Avataar’s plug and play platform, and the contemporary funds will likely be deployed in direction of analysis and improvement initiatives, it stated.

“In 2019, greater than 300 million customers have 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,” stated Shailesh Lakhani, managing director, Sequoia Capital India.

With bodily footfalls muted by the Covid-19 outbreak, Avataar has seen larger demand, pushed by digital and bodily commerce industries investing extra in digital and contact-less client buy experiences. Subsequent 12 months, Avataar is seeking to enter different main AR markets such because the UK, Germany and Japan, the corporate stated.