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

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Avataar.me, a 3D and Augmented Reality software program that helps enterprise clients 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 line with the corporate.

Avataar brings spatial depth to the onscreen shopping for expertise – delivering life-like photo-realism, cell 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 yr.

“AR/VR has shown strong emotional connect with GenZ and younger millennial consumers, a segment that brands have struggled to engage with in recent years and a segment that has far more spending power today than they did five years ago,” stated 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 the direction of analysis and growth initiatives, it stated.

“In 2019, more than 300 million users were actively using AR. Spends on AR tools for creating social engagement for brands along with ‘try-before-you-buy’ experiences is expected to grow 10X by 2023. Undoubtedly, the time for AR/VR is now, with ecommerce being one of the broadest applications,” 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. Next yr, Avataar is trying to enter different main AR markets such because the UK, Germany and Japan, the corporate stated.





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