Bengaluru-based Avataar, an artificial intelligence (AI) and computer vision platform focused on spatial visual discovery, has raised $45 million in its Series B funding round led by Tiger Global with co-participation from existing investor Sequoia Capital India.
Founded by Prashanth Aluru, Sravanth Aluru, Gaurav Baid and Mayank Tiwari, Avataar enables scalable product discovery, giving brands and stores the opportunity to change the way consumers discover and engage with their products online.
The company works with e-commerce, consumer electronics, auto OEMs and FMCG majors across the US, India and Southeast Asia.
“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.
INDIA DEAL MONITOR
Here are prominent venture capital transactions in India announced between January 5 and 9, 2022.
|Startup||Headquarter||Investment Size (USD)||Investment Stage||Lead Investor(s)||Other Investor(s)||Industry||Verticals|
|Avataar.me||Bengaluru||45 million||Series B||Tiger Global||Sequoia Capital India||Software||AR & VR|
|Zuddl||Hyderabad||13.35 million||Series A||Alpha Wave Incubation (AWI), Qualcomm Ventures LLC||GrowX, Waveform Ventures||Internet||SaaS|
|Groww||Bengaluru||-||-||Satya Nadella||-||Financial Services||Fintech|
|Skyber Enterprises||Mumbai||-||Pre-Seed||Faad NetworkPvt Ltd||-||Software||SaaS|
|91Squarefeet||Gurugram||1 million||Pre-Seed||Omphalos Ventures India, Nikhil Vora, Rannvijay Singh Singha, VG-Angels||-||Retail||Real Estate Tech|
|Rupifi||Bengaluru||25 million||Series A||Bessemer Venture Partners, Tiger Global||Quona Capital, Ankur Capital, Better Capital||Financial Services||Fintech Lending|
|Dunzo||Bengaluru||240 million||Series E||Reliance Retail Ventures Ltd||Lightbox, Lightrock, 3L Capital, Alteria Capital||Logistics/Distribution||E-commerce|
|Fractal||Bengaluru||360 million||Private Equity||TPG Capital Asia||-||Outsourcing||AI and Machine Learning|
|Mainstreet Marketplace||Mumbai||-||Seed||-||Kunal Shah, Raj Shamani, Varun Duggirala, Rohan Batra, Cravatex Brands, Prashant Iyer, Rohit Raj, Bhavisha Dave, Keshav Hingorani||Retail||E-commerce|
|One Impression||Gurugram||1 million||Seed||-||Karandeep Anand, co-founders of Vedantu, Varun Alagh, Anupam Mittal, Rohit M.A, Ramakant Sharma, Neeraj Chopra, Zakir Khan, Kanan Gill, Masoom Minawala, Manish Agarwal, Ravi Bhushan, Akshat Rathee, Manish Chowdhary & Karan Chowdhary, Arjun Vaidya, Ajay Nair, Venus Dhuria, Ishank Joshi, Giridhar Malpani||Marketing/Advertising||Sales & Marketing Software|