Avatar AI and Computer Vision Platform Raises $45M in Tiger Global-led Round

Avatar AI and Computer Vision Platform Raises $45M in Tiger Global-led Round

Avataar’s patented rendering platform offers plug and play integration into the websites and mobile apps of its client partners, and brings to life the power of spatial depth to consumers’ visual discovery via highly contextual user journeys.

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. The financing is one of the biggest raising money adjusts in the Applied 3D/AR space. Avataar’s platform powers the biggest worldwide eCommerce marketplaces and driving D2C brands, shaping purchaser journeys with life-sized 3D item assessment combined with interactive feature discovery.

“More than 60 percent of human sensory neural processing is visual in nature, 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. The digital world is undergoing a fundamental shift from static 2D content to a life-size virtual 3D world which is dynamic and super imposable onto our shared physical reality. Avataar aims to be the ‘Inside Engine’ powering many new consumer journeys in this shift,” said Sravanth Aluru, Founder and CEO, Avataar.

Aluru adds: “For the first time in history, we are now able to detect, understand, augment and manipulate consumers’ physical reality using a live camera feed. While our patented AI/CV capabilities are applicable to the overall Metaverse evolution, 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.”

Avataar’s backend SuperNova platform seamlessly ingests existing 2D product images/videos across categories like furniture, electronics, large appliances, fashion, and more, and offers a plug and play front-end integration for consumer visualization of life-size 3D avataars of products at scale. The digital and digitally influenced marketplace is projected to grow to $18 trillion by 2025, offering a monetization opportunity of more than $50 billion over the next decade for the underlying platforms driving the 2D to 3D commerce shift.

“Consumers continue to look for a better eCommerce experience, and the innovative technology created by Avataar provides a powerful plug and play solution for its customers to meet this demand. As the digital world shifts from 2D to 3D, Avataar and its talented management team are well positioned in this fast-growing market,” said Evan Feinberg, Partner at Tiger Global.

“The Metaverse is already here, just not evenly distributed. Avataar.me is leading the way in bringing scale creation capabilities to the largest brands to enable commerce – an application with tremendous promise in AR/VR environments. Sravanth, Gaurav, and Mayank have been a delight to work with and Sequoia Capital India is excited to re-iterate its commitment in their Series B round,” said Shailesh Lakhani, MD at Sequoia India.

Disclaimer: If you need to edit or update this news from compsmag then kindly contact us Learn more

For Latest News Follow us on Google News


Latest Headlines
  • Show all
  • Trending News
  • Popular By week
Live COVID Updates: National Cabinet See Prime Minister and State Prime Ministers Meet to Discuss Omicron Spread across Australia
Live COVID Updates: National Cabinet See Prime Minister and State Prime Ministers Meet to Discuss Omicron Spread across Australia
QLD: 11,600 new cases, 829 people in hospital, 48 in ICU, 15 deaths. Watch the press conference here TAS: 726 new cases, 24 people in hospital. Watch the press ...
This summer, a new Kao the Kangaroo game will be released for the PlayStation 5, Xbox One, Switch, and PC
This summer, a new Kao the Kangaroo game will be released for the PlayStation 5, Xbox One, Switch, and PC
Join Kao on his biggest adventure yet! This time the brave kangaroo has to find his missing sister and solve the mystery of what happened to his long-gone ...
Generali's stake in insurance joint ventures will increase to up to 74%
Generali’s stake in insurance joint ventures will increase to up to 74%
It will become the majority shareholder of Future Generali India Insurance Company Limited and Future Generali India Life Insurance Company Limited, ...
Second local child dies of COVID-19 |  local news
Second local child dies of COVID-19 | local news
The death comes amid skyrocketing case levels from the fast-spreading omicron variant. Even though deaths among the younger set remain rare, children are ...
India's new energy transition must be prioritized in the 2022 budget
India’s new energy transition must be prioritized in the 2022 budget
Given this, it will be interesting to see what the announcements in the Union Budget are towards the energy sector, particularly in new energy. Green ...
Solution Financial Reports 2021 Year-End Financial Results
Solution Financial Reports 2021 Year-End Financial Results
Solution is reporting net income of $907,166, or $0.011, per share for the year ending October 31, 2021. This compares to net income of $400,413 or $0.005 per ...
Hospitalizations for COVID-19 hit another high in Thursday’s DHHR report
Hospitalizations for COVID-19 hit another high in Thursday’s DHHR report
Thirty-nine of the state’s 55 counties are red on the COVID-19 county alert, meaning the highest transmission rate. That is down from 49 on Monday. “If you are ...
|  Japan home medical support company Human Life Management gets Care24
| Japan home medical support company Human Life Management gets Care24
Post the acquisition, HLM and Care24 will closely work together to scale and strengthen medical service offerings in India and additionally expand to other ...
Economic indicators flash early warning signal for India's recovery
David Einhorn’s Greenlight Capital Up 11.9% Last Year
“The macro environment has continued to be favorable for us, but it now feels like the tailwinds are picking up speed,” the letter said. David Einhorn’s ...
Companies in the rapidly evolving consumer goods sector are looking for ways to increase consumption
Companies in the rapidly evolving consumer goods sector are looking for ways to increase consumption
“We would recommend that the government should introduce measures to ensure more money is left in the hands of the salaried and middle class to accelerate ...
Show next
We will be happy to hear your thoughts

Leave a reply

Compsmag - Latest News In Tech and Business
Logo