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Avataar secures $45 million Series B funding led by Tiger Global

The platform converts 2D images of products to 3D models across categories such as furniture, electronics, large appliances, and fashion among others.

January 07, 2022 / 05:03 PM IST
Founded by Prashanth Aluru, Sravanth Aluru, Gaurav Baid, and Mayank Tiwari, Avataar has developed a platform that helps large e-commerce marketplaces and direct-to-consumer (D2C) brands to create immersive and interactive shopping experiences for their consumers.

Founded by Prashanth Aluru, Sravanth Aluru, Gaurav Baid, and Mayank Tiwari, Avataar has developed a platform that helps large e-commerce marketplaces and direct-to-consumer (D2C) brands to create immersive and interactive shopping experiences for their consumers.

AI and Computer Vision platform Avataar has raised $45 million Series B funding led by Tiger Global with participation from Sequoia India.

Founded by Prashanth Aluru, Sravanth Aluru, Gaurav Baid, and Mayank Tiwari, Avataar has developed a platform that helps large e-commerce marketplaces and direct-to-consumer (D2C) brands to create immersive and interactive shopping experiences for their consumers.

The firms can integrate Avataar's plug-and-play technology into their websites and mobile apps, to help consumers evaluate the look and feel of products in true life-size in their homes using the camera on their mobile phones.

For instance, a consumer looking to purchase a refrigerator can drop a virtual version in their own kitchen and walk around to evaluate the look and feel. They are also able to toggle between available colors, open and close the doors, and compare multiple refrigerator types side-by-side, the company said. It claims to work with e-commerce, consumer electronics, auto OEMs, and major FMCG players across the United States, 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 superimposable onto our shared physical reality,” said Sravanth Aluru, Founder and CEO, Avataar.

Aluru said they are able to detect, understand, augment and manipulate consumers’ physical reality using a live camera feed. "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", he said.

The startup claims that e-commerce marketplaces using this platform also leverage deep behavioural insights and consumer analytics to achieve more than 3.5x sales conversion growth along with a significant increase in consumer average engagement time.

“Consumers continue to look for a better e-eommerce 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.
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first published: Jan 7, 2022 05:03 pm