peAR raises Rs 4.2 crore in Pre-series A funding to expand its augmented reality-based restaurant ordering app
PeAR, an early-stage startup in the Asia-Pacific region that offers an augmented-reality-based app for ordering food in restaurants, has secured a pre-series A funding round worth Rs 4.2 crore. The round was led by 1crowd and Chennai Angels, with co-leadership from Inflection Point Ventures (IPV).
The company intends to use the raised funds to expand its existing range of solutions to new markets, address additional challenges faced by restaurants, and develop an integrated suite of restaurant technology solutions.
Dharmin Vora, Founder, peAR, says, “Our association with IPV has been wonderful from the beginning. They have backed us time and again & this just shows their approach to back their start-ups. Their guidance & CXO members helps us create a wide pool of people whom we can connect with and learn from. They have also done a fantastic job on keeping the members active and involved in every manner. Their immense support & efforts stands out amongst all investors.”
PeAR, a company founded in 2019 by three college students named Dharmin Vora, Dhruvesh Mehta, and Parth Vora, aims to create AR-based digital assets for various businesses. Their primary focus is on transforming the dining experience in restaurants by using Augmented Reality to allow customers to visualize dishes before ordering. This approach enhances the customer experience, and the technology enables restaurants to upsell while collecting valuable data. PeAR has developed proprietary tech that transforms menu items into interactive 3D images, replacing traditional paper menus. PeAR has expanded its vision to build an integrated ecosystem for more than 30 million restaurants in India and other emerging markets, which is known as “Toast for India.”
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