Avataar

About Avataar

Based in Bengaluru, India, Avataar operates as a business-to-business (B2B) company specializing in artificial intelligence and computer vision. It was founded in 2014 by Sravanth Aluru and Gaurav Baid. Aluru, the company's CEO, developed a passion for spatial storytelling and visual discovery early in his career at Microsoft, where he worked with the Kinect depth sensor for the Xbox. This experience with early AI and computer vision use cases laid the groundwork for Avataar's mission. The company was established to address the friction in physical workflows and leverage technology to bridge the gap between digital and physical commerce.

Avataar has secured a total of $55.5 million in funding over six rounds, with its most recent being a Series B round of $45 million on December 17, 2021, led by Tiger Global Management. This significant investment underscores the company's growth trajectory and the market's confidence in its technology. The company's platform is engineered to create immersive and interactive shopping experiences by transforming 2D product images into photorealistic 3D models and augmented reality (AR) content. This addresses a key challenge for e-commerce businesses by simplifying and accelerating the adoption of AR technology.

The company's core product is an AI-powered platform that enables enterprise clients to automate the creation of 3D and AR content at scale. Its AI creative suite, Velocity, can generate marketing assets like videos, lifestyle imagery, and motion content directly from existing product assets or links, eliminating the need for traditional photoshoots and video production. This not only reduces costs and delays but also allows brands to create engaging content for products that might not typically warrant a video production budget. The platform's features include real-time 3D rendering, AR object placement, and integrations with e-commerce platforms. Avataar serves a range of large enterprise customers, including major brands like HP, Victoria's Secret, and Lowe's, across sectors such as retail, e-commerce, healthcare, and financial services. Revenue is generated through a mix of subscriptions, usage-based pricing, and custom development services, providing a diversified income stream.