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Avataar Secures 7 Million USD in Series A Funding Round
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Avataar, a Bengaluru-based 3D AR platform, has secured 7 million USD in Series A funding round. Sequoia Capital India led the latest fundraise. According to the company, it would utilize the latest funding to enhance its cutting-edge R&D product leads.

Avataar.me (1), a 3D AR, an augmented reality platform that offers large customers create an immersive shopping experience for its end-users, has secured 7 million USD. Sequoia Capital India led the Series A funding round of the startup. The firm would utilize fresh infusions to create cutting edge R&D product initiatives.

Notably, Avataar is planning for strategic growth accelerations for organizations across digital commerce industries across the world. 

Prashanth Aluru, Sravanth Aluru, Gaurav Baid, and Mayank Tiwari founded the startup in 2016. It took four years for the team to develop the required R&D. Notably, the company has already proven RoI results for its MNC institutes clients in ecommerce, automotive manufacturers, and customer durables. 

Moreover, Avataar creates online experiences with life-size and realistic 3D XR/AR technologies, replacing the 2D visuals. 

 

Avataar Looking to Enhance B2B2C Experience with Its Cutting Edge Technologies

Sravanth Aluru, the co-founder of the Avataar, stated that the team aims to create a robust B2B2C experience. In 2019, the team observed the high penetration of smartphones in the market. That’s when they realized that the AR experience has a lot more to offer than in social media. Moreover, there is an untapped zone in the retail industry functions with the AR technology. It can provide people an experience of shopping in-store when they avoid stepping out amid the COVID-19 pandemic. 

Avataar visions to bridge the gap between offline and online experiences with life-size and realistic 3D XR/AR technologies, replacing the current 2D visuals. Interestingly, the opportunity for technology is worth about 25 billion USD by 2021. 

The team used patented AI-based algorithms to develop the most comprehensive platforms for companies to digitally showcase their physical products and services. Sravanth claims that customers can drag and drop virtual products inside a simulated environment of their homes. 

It would enable them to check whether the products match their requirements. Avataar is re-shaping the digital commerce industry with its 3D AI AR technology, and bringing a spatial depth to the onscreen buying experiences. 

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Rucha Joshi is fueled by her passion for creative writing. She is eager to turn information into action. With her hunger for knowledge, she considers herself a forever student. She's currently working as a content writer and is always interested in a challenge.

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Rucha Joshi
Rucha Joshi
Rucha Joshi is fueled by her passion for creative writing. She is eager to turn information into action. With her hunger for knowledge, she considers herself a forever student. She's currently working as a content writer and is always interested in a challenge.

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