Tiger Global leads $45m funding round for Avataar and other India deal updates

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.

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)IndustryVerticals
Avataar.meBengaluru45 millionSeries BTiger GlobalSequoia Capital IndiaSoftwareAR & VR
ZuddlHyderabad13.35 millionSeries AAlpha Wave Incubation (AWI), Qualcomm Ventures LLCGrowX, Waveform VenturesInternetSaaS
GrowwBengaluru--Satya Nadella-Financial ServicesFintech
Skyber Enterprises Mumbai-Pre-SeedFaad NetworkPvt Ltd-SoftwareSaaS
91SquarefeetGurugram1 millionPre-SeedOmphalos Ventures India, Nikhil Vora, Rannvijay Singh Singha, VG-Angels-RetailReal Estate Tech
RupifiBengaluru25 millionSeries ABessemer Venture Partners, Tiger GlobalQuona Capital, Ankur Capital, Better CapitalFinancial ServicesFintech Lending
DunzoBengaluru240 millionSeries EReliance Retail Ventures LtdLightbox, Lightrock, 3L Capital, Alteria CapitalLogistics/DistributionE-commerce
FractalBengaluru360 millionPrivate EquityTPG Capital Asia-OutsourcingAI 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 RetailE-commerce
One ImpressionGurugram1 millionSeed-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 MalpaniMarketing/AdvertisingSales & Marketing Software

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.