AR-based App PeAR Bags Rs 4.2 Cr In Pre-Series A

PeAR, a restaurant ordering service based on augmented reality, raised Rs 4.2 crore in a pre-series A was co-led by Inflection Point Ventures and 1crowd, with Chennai Angels as a co-leader (IPV). The money raised will be used to construct a suite of integrated restaurant-tech solutions, expand the company's current suite of products across countries, and solve further restaurant issues.

AR-based digital assets for companies across industries, Dharmin Vora, Dhruvesh Mehta, and Parth Vora, then-college students, established PeAR in 2019. Their goal is to alter how customers perceive and place food orders in restaurants.

Mitesh Shah, Co-Founder of IPV, "After Covid, the Hospitality sector has been using tech on the front end to further improve the dining experience of the clients. Restaurants now routinely use digital payment integration and QR-coded menus. Yet when the order is being narrowed down, the first POC is used. We chose to support the company in this round as well after observing the gradually increasing use of peAR's technology.

"Our connection with IPV has been excellent from the beginning," says Dharmin Vora, founder of peAR. They have consistently supported us, and this only demonstrates how they support their start-ups. Our ability to engage with and learn from a variety of people is made possible by their advice and that of the CXO members. They've also done a great job of keeping the members engaged and active in all aspects. They distinguish out among investors with their tremendous support and efforts.

In India, the market for dining in is four times higher than the market for deliveries. PeAR is working to assist restaurants enhance their revenue by addressing the dine-in market.