Thai firm Translucia selects India's Sunovatech for $3 billion metaverse project

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Thailand-based Translucia has onboarded Sunovatech, which specialises in immersive and extended reality, for its USD 3 billion metaverse project, the Indian firm said.

The partnership marks the entry of Translucia in India. Translucia is a subsidiary of T&B Media Global run by Chearavanont family members -- counted among Asia's top 5 richest family based out of Thailand.

"We are delighted to work with Sunovatech India including our global partners. These partners bring their unique expertise, talent and advanced technologies to help Translucia achieve its goals. Sunovatech contribution is critical as the talent from India will bring in quality, speed of production, cost efficiency, and commitment," T&B Media Global founder and CEO Jwanwat Ahriyavraromp said in a statement.

The global alliance includes Singapore-based digital asset bank Sygnum, Melbourne-based metaverse research and development centre Two Bulls, and Chines creative firm Black Flame.

Under the partnership, Sunovatech will act as a production hub for building 3D assets, environments and modules of the metaverse. Sunovatech founder Rishi Ahuja, who is a self-trained technologist, said that the USD 3 billion investment for the Translucia project is expected to be made in the next couple of years.

"This partnership uniquely opens access to a large volume of 3D assets for Translucia owned by Sunovatech. Sunovatech's resources will build various components and assets of the metaverse as a service contract with various stakeholders to deliver in the Translucia interconnected metaverse," he said.

Ahuja said that with the Translucia project in hand, the company expects to see 4 to 5 times growth in business in the next three years. He said that the company has around 80 people, which it plans to scale up to over 250 by the end of next year.

Around 20 years old firm Sunovatech has only one client in India, Indian Railways, while all other customers are based overseas, including Paramount Studios, Dubai and Qatar governments etc, Ahuja said.