Deeptech Startup PeAR Raises Rs 2.5 Cr In Pre-Series-A1 Led By Inflection Point Ventures
- ByStartupStory | July 1, 2021
Deeptech computer vision and augmented reality (AR) specific startup peAR Technologies has raised Rs 2.5 crore in a pre-Series A1 round led by Inflection Point Ventures. The startup was founded in 2019 by college students Dhruvesh Mehta, Parth Vora, and Dharmin Vora. The goal of the startup is to develop AR-based digital assets for enterprises across industries. Moreover, the startup has established an AR application pear-food menu for restaurants that enables customers a chance to watch the entire menu in 3D AR before they place their order. Currently, the startup is looking to recruit some of the candidates across roles to strengthen the team. With the funds raised, Pear’s aim is to reach 15,000 orders monthly by the end of this year.
The startup said its proprietary image-to-3D Model tech has made boring paper menus into interactive 3D menus. This helps restaurants upsell better-looking dishes. Since the orders are also placed digitally, restaurants can now have the valuable data they were missing out on for the dine-in customers. The startup is going to expand the dine-in market, which is relatively less competitive in India and is four times larger than the Delivery Market.
Dharmin Vora, Co-founder, peAR, said, “We have seen 100 percent month-over-month growth in the past six months and we will continue to grow at a faster rate in the coming months as well. We are also planning to launch in new cities as we want users across India to experience 3D and augmented reality-based ordering. We have been lucky to have IPV back us from the start to reach where we are today. They have not only helped us with financial aspects but also helped us in building business and team because of the diverse & rich experience and knowledge their CXO members have in all the industries.”
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