Avataar, a San Francisco and Bengaluru-based artificial intelligence (AI) and computer vision platform, announced today that it has raised $45 million (Rs 334 crore) in a Series B funding round led by Tiger Global and Sequoia Capital India. Sequoia Capital is an existing investor in the company.
According to the statement, the funding is one of the largest in the Applied 3D/AR space.
Prashanth Aluru, Sravanth Aluru, Gaurav Baid, and Mayank Tiwari founded the company in 2014 with the goal of creating a virtual life-size embodiment of our physical world that can co-exist within physical spaces and drive a paradigm shift in visual discovery experiences globally.
Avataar’s platform powers numerous global e-commerce marketplaces and leading direct-to-consumer brands, shaping consumer journeys with life-sized 3D product evaluation and interactive feature discovery.
Avataar claims to offer plug-and-play integration into its client partners’ websites and mobile apps via its patented rendering platform. According to the startup, their platform serves as a “Inside Engine” that powers multiple user experience shifts to interactive life-size Web 3.0, also known as the Metaverse.
Avataar will use this round of funding to focus on technological innovation and expanding the platform’s global footprint.
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