Avataar, an AI and Computer Vision stage focused on spatial visual revelation. Today declared a $45 million Series B funding round drove by Tiger Global with co-participation from existing investor Sequoia Capital India.
Avataar’s platform powers the biggest worldwide eCommerce
The funding is one of the most significant capital raises in the applied 3D/AR field. In addition leading eCommerce marketplaces and D2C companies use Avataar technology to shape customer journeys through life-sized 3D item appraisal and interactive feature discovery.
“Visual processing accounts for more than 60% of human sensory brain processing. Additionally the absence of spatial depth on today’s flat displays creates a significant experience gap between digital (static 2D images and films) and real world experiences.
The digital world is evolving from static 2D material to a life-size virtual 3D environment that is dynamic and superimposed upon our shared physical reality. Moreover Sravanth Aluru, Founder and CEO of Avataar, stated. “Avataar intends to be the ‘Inside Engine’ fueling many new customer journeys in this change.”
Avataar’s patented rendering platform offers plug and play integration
Avataar’s unique rendering technology integrates seamlessly into its client partners’ websites and mobile applications. Bringing the power of spatial depth to customers’ visual discovery through highly contextual user journeys.
“We are now able to detect, analyze, modify, and change customers’ physical reality utilizing a live video feed for the first time in history”. Aluru continues. While our proprietary AI/CV capabilities are relevant to the entire Metaverse development. We have focused on changing customers’ purchasing experiences first and foremost..
The platform will alter the customer purchasing experience at home on their mobile devices. At a real store browsing an endless aisle of a digitally enabled catalogue. Or even in a physical store with AR glasses/wearables.”
By the end of the decade, the market for digital and digitally impacted goods and services will reach $18 trillion. Valued at more than $50 billion for the platforms driving the 2D to 3D transition to commerce.
“The Metaverse is already here; it’s just not dispersed equally.” “Avataar.me is leading the way in giving scale creation capabilities to the biggest brands to allow commerce – an application with a lot of potential in AR/VR settings,” said Shailesh Lakhani, MD of Sequoia India.