The Indian Wire » Startups » Venture Catalysts backs augmented reality tech platform peAR with an undisclosed amount
Startups

Venture Catalysts backs augmented reality tech platform peAR with an undisclosed amount

Lightbox invests $8 million in customized apparel brand Bombay Shirt Company through series B round

One of its kind startup, that deals with deep-tech computer vision and augmented reality (AR), peAR Technologies, has raised an undisclosed amount of funding from seed investor Venture Catalysts, reported Yourstory.

The AR-driven platform peAR will put the capital in developing newer technology stack as the startup is in process of patenting its current technology.

Dharmin Vora, Co-Founder, peAR Technologies said,  “We are currently creating 200 digital assets (3D Models) a day. This investment will help us create over 2,000 to 3,000 digital assets per day due to extremely advanced hardware-software combination we’ve developed. We also have one of the most talented teams and we’re currently working on building the infrastructure around creating these digital assets at scale for multiple sectors. We’re glad to partner with Venture Catalysts and other investors as their experience and expertise across various domains helps us expand in different sectors extremely fast.”

peAR was started by Dharmin Vora, Dhruvesh Mehta, and Parth Vora in 2018. The platform peAR develops AR-based digital assets for enterprises across industries.

It also claims to have developed an AR application peAR-Food Menu for restaurants to offer customers the chance to watch the entire menu in 3D AR before they place their order.

The company also plans to extend this product offering across emerging segments including online furniture, ecommerce and automobile.

Apoorv Ranjan Sharma, founder, Venture Catalysts said, “Apart from its unique proposition, peAR’s extremely talented and widely skilled team was a big draw for us. Together, the peAR team has the ability to bring forth a revolution in the world of retail by changing the very way through which consumers across sectors engage primarily with the product listing devices. This is the beginning of something brand new and we, at Venture Catalysts, are already excited as to where this journey with peAR might take us.”

peAR said that it is developing a unique backend hardware and software combination using computer vision, which allows it to capture and convert images into 3D Models at scale with minimal to no human intervention.

Reach out to The Indian Wire!

Want to work with us? Looking to share some feedback or suggestion? Have a business opportunity to discuss?

You can reach out to us at [email protected] and we will get back in minutes.

Like us on Facebook!

Advertisement