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Avataar.me secures Rs 51 crore in Series A round

Mumbai: Avataar.me – a 3D and augmented reality (AR) platform, has raised USD 7 million (Rs 51 crore) in its Series A round of funding from Sequoia Capital India.

Avataar’s AR technology seeks to boost on-screen buying/browsing experience.The startup will utilize the capital towards further R&D. A part of the money will be also deployed for strategic growth acceleration for brands across digital and digitally-influenced commerce industries globally.

“To put the opportunity into perspective — by the end of 2019, there were about 1.65 billion handsets with built-in AR capabilities in consumers’ hands. This is creating an opportunity for AR/VR that didn’t exist 12 to 18 months ago,” said Sravanth Aluru, a co-founder.

The startup was launched in 2016 by Aluru, Gaurav Baid, and Mayank Tiwari.

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