Bengaluru startup Avataar raises $45 Mn
By MYBRANDBOOK
AI and computer vision startup Avataar has raised $45 million in its Series B funding round led by Tiger Global and existing investor Sequoia Capital India. Avataar helps direct-to-consumer brands and e-commerce marketplaces with shaping their consumer journeys with 3D execution of products.
Firms can integrate Avataar’s plug-and-play technology into their systems, which then allows customers to visualize products in real-life size and feel in their living room using the phone’s camera.
Sravanth Aluru, Founder and Chief Executive of Avataar, said, “For the first time in history, we are now able to detect, understand, augment and manipulate consumers’ physical reality using a live camera feed. We have started with an upfront focus on redefining consumers’ shopping experiences. The platform will transform the consumer shopping experience at home on their mobile devices, through AR glasses/wearables, or even in a physical store exploring an infinite aisle of a digitally enabled catalogue.”
He further added that more than 60% of human sensory neural processing is visual, and the lack of spatial depth on flat screens today drives a big experience gap between the digital (static 2D images and videos) and the physical world experiences. Avataar aims to be the engine powering many new consumer journeys in this shift.
Avataar’s platform acts as an ‘inside engine’ powering multiple user experience shifts to interactive life-size Web 3.0, also known as the Metaverse.
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