Bengaluru based Avataar.me raises $45 million in Series B round of funding
- ByTejika Bajaj | January 9, 2022
Bengaluru based AI powered startup Avataar.me has recently announced that it has raised $45 million in its Series B round of funding led by Tiger Global. Existing investor Sequoia Capital India also participated in the round of fundraise.
The recent capital infusion amounts to one of the largest fundraising rounds in the field of applied 3D and artificial reality.
Commenting upon the recent round of fundraise along with the significant development in the field of artificial reality, the founder and CEO of Avataar, Sravanth Aluru said, “Avataar’s platform acts as an ‘inside engine’ powering multiple user experience shifts to interactive life-size Web 3.0, also known as the Metaverse. The digital world is undergoing a fundamental shift from static 2D content to life-size virtual 3D worlds. More than 60% of human sensory neural processing is visual, 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. Avataar aims to be the engine powering many new consumer journeys in this shift.”
This announcement comes at the back of artificial intelligence (AI) focused companies bagging massive amounts of funding as the sector becomes a lucrative one for its potential investors. In November, Pune-based AI-driven robot maker Haber, which operates under Elixa Technologies, raised $20 million in its Series B round of funding led by Ascent Capital, with participation from Accel, Elevation Capital, Beenext, Temasek partner Mukul Chawla and entrepreneurs Samay Kohli and Akash Gupta.
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