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Avataar Raises $45 Million To Improve Consumer Shopping Experience With Life-Sized 3D Product Evaluation

Avataar Raises $45 Million To Improve Consumer Shopping Experience With Life-Sized 3D Product Evaluation

01/07/22, 8:01 AM
Location
https://purecatamphetamine.github.io/country-flag-icons/3x2/US.svgsan francisco
Money raised
$45 million
The vast majority of e-commerce customers prefer to preview the product before making the purchase. That’s the reason why the likes of Amazon have historically struggled to move fashion and home decor items online. A San Francisco and Bengaluru-based startup is attempting to solve this problem and has just raised a new funding round to scale its operations.

Company Info

Company
Avataar
Location
san francisco, california, united states
Additional Info
A San Francisco and Bengaluru-based startup is attempting to solve this problem and has just raised a new funding round to scale its operations. The six-year-old startup has raised about $55.5 million, including some financed by the founder and chief executive in the early years, across all funding rounds. The firms can integrate Avataar’s plug-and-play technology into their system, which then allows customers to visualize the products in its real-life size and feel in their living room using the phone’s camera. The startup currently works with a number of firms including the top two e-commerce marketplaces across furniture, large appliances and other categories, said Sravanth Aluru, founder and chief executive of Avataar, in an interview with TechCrunch. (Some firms such as Samsung and Pepperfry have publicly acknowledged collaboration with Avataar.) The startup relays the engagement information to the partner brands who then further personalize their offerings to better serve the customers. Without revealing the brand names, he said some smartphone firms have used Avataar’s technology to carry virtual launches. Aluru said the startup is gearing up to be at the forefront as metaverse makes inroads and engages with several key players in the space. “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.”Evan Feinberg, Partner at Tiger Global, said in a statement: “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. AI and computer vision startup Avataar said on Friday it has raised $45 million in its Series B funding. As the digital world shifts from 2D to 3D, Avataar and its talented management team are well positioned in this fast-growing market.”

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