3D AI Startup Avataar.me Raises $7 Million in Series A Funding
Founded in 2016 by Prashanth Aluru, Sravanth Aluru, Gaurav Baid and Mayank Tiwari, the company currently possesses 10 US patents to its name. The team spent its initial four years developing the technology
“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,” said Shailesh Lakhani, managing director, Sequoia Capital India.
Avataar’s sector agnostic platform bridges the gap between offline-online experiences by replacing the current 2D visuals with life-size and hyper-realistic 3D XR/AR experiences. The AR technology used brings spatial depth to the onscreen buying/browsing experience.
“Using patented AI-based algorithms, the team at Avataar.me has developed the most comprehensive platform for enterprises to showcase their physical products and services digitally, driving better business outcomes. The Sequoia India team is thrilled to partner with Avataar.me and help power their vision of bridging the offline-online experience gap,” further added Shailesh.