Miguel Cordon · · 1 min readSequoia, Tiger Global back $45m round of Indian AR startup
India-based Avataar, an AI and augmented reality startup, said it raised US$45 million in a series B round that was led by Tiger Global and joined by existing backer Sequoia Capital India.
The Avataar team: (from left) CTO Sarbartha Sengupta, CEO Sravanth Aluru, COO Gaurav Baid, head of platform design Sneha Smriti, and chief business officer Mayank Tiwari
Established in 2014, Avataar provides ecommerce marketplaces and direct-to-consumer brands with a platform called SuperNova, which brings products to life using 3D product evaluation.
For example, potential refrigerator buyers can drop a life-sized version of a specific unit into a virtual version of their own kitchens, open and close the fridge’s doors, and toggle between available colors.
The company said it expects the digital and digitally influenced marketplace to grow to US$18 trillion by 2025 and sees a monetization opportunity of more than US$50 billion over the next decade for the underlying platforms driving the 2D to 3D commerce shift.
Avataar was founded by Prashanth Aluru, Sravanth Aluru, Gaurav Baid, and Mayank Tiwari.
In October 2020, the company raised US$7 million in its series A round.
Editing by Collin Furtado and Arpit Nayak
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