Visit StickyLock

Lumikai Leads $2 Million Seed Funding for AutoVRse

AR/VR Startup AutoVRse Acquires Lumikai Seed Funding

Yash Kotak, the creator of Jumper.ai, and Rajat Monga, cofounder of TensorFlow and Inference.io, participated in the fundraising round as well.

The business plans to use the additional funding to improve VRseBuilder, its flagship enterprise solution.

Additionally, it plans to increase the size of its workforce and product line as well as step up its attempts to grow in the United States.

The business AutoVRse, which specialises in augmented and virtual reality, has raised $2 million in a seed fundraising round headed by Lumikai.

Rajat Monga, creator of TensorFlow and Inference.io, and Yash Kotak, founder of Jumper.ai, also took part in the round.

The business plans to improve VRseBuilder, its flagship enterprise product, with the additional funding.

AutoVRse, which was founded in 2016 by Adarsh Muthappa and Ashwin Jaishanker, creates bespoke VR/AR applications for businesses that want to use the technology for experiential marketing, skill development training, and design evaluations.

The business has also released a social multiplayer rhythm virtual reality game called District M: the Multiverse Dance Festival. The game’s demo was released two years ago on the Oculus AppLab, and it will soon be available on PlayStation and Meta. According to the corporation, the enterprise and gaming divisions collaborate closely to use breakthroughs for enterprise product development.

In addition, it plans to increase the size of its workforce and product line in addition to intensifying its growth efforts in the US. In order to promote quality lead creation and enable market development, it plans to establish a B2B sales staff in the US.

VR has the potential to revolutionise a wide range of industries. Increasing safety and making work and training enjoyable are the main goals of enterprise solutions, particularly for factory workers who are the backbone of all large-scale manufacturing businesses. The company will be able to showcase District M to the globe and use VRseBuilder to its fullest capacity with the aid of this financing. It is in for an exciting adventure as the team continues to push the boundaries of immersive technology, Muthappa and Jaishanker stated in a joint statement.

Lumikai’s founding general partner Salone Sehgal said that AutoVRse’s enterprise technology and solutions compete with the best in the world. Together with their cutting-edge, inventive gaming laboratories, their emphasis on innovation and ability to provide scalable, VR-led solutions for pressing issues affecting heavy industries has helped them become a global leader in VR experiences. Regarding the investment, Lumikai’s founding general partner Salone Sehgal said that Lumikai is extremely thrilled to be lead investors and collaborate with Ashwin, Adarsh, and the AutoVRse team to create a world-class, enduring AR/VR company.”

In June, Lumikai opened its second fund, which had a $50 million total capital. Over the following three years, Sehgal had said that the fund will mostly be used to invest in 18–20 early-stage startups.

Join the Discussion


Visit StickyLock
Back to top