AutoVRse, a pioneering virtual reality (VR) and augmented reality (AR) startup, has successfully raised $2 million in seed funding in a round led by Lumikai. The investment will enable AutoVRse to further develop its foundational enterprise product, VRseBuilder, and accelerate its expansion efforts, particularly in the United States.
Building Immersive Experiences for Enterprises:
Founded in 2016 by Adarsh Muthappa and Ashwin Jaishanker, AutoVRse specializes in creating customized VR and AR applications for enterprises. These solutions cater to businesses looking to harness the power of immersive technologies for various purposes, including experiential marketing, training and skill development, and design reviews.
Noteworthy Investors Participating in the Funding Round:
The seed funding round attracted prominent investors, including Rajat Monga, co-founder of TensorFlow and Inference.io, Yash Kotak, founder of Jumper.ai, and Dhiraj Bansal, Managing Director of Accenture. Their participation underscores the industry’s recognition of AutoVRse’s potential and the value it brings to the AR/VR ecosystem.
Expanding Reach with a Focus on the United States:
AutoVRse plans to utilize the fresh funding to bolster its expansion efforts, with a particular focus on the United States market. The company aims to establish a dedicated B2B sales team to drive lead generation and facilitate market expansion, ensuring its immersive solutions reach a wider audience.
Pushing the Boundaries of Gaming and Enterprise Solutions:
AutoVRse’s gaming division has achieved significant milestones, most notably with the launch of “District M, the Multiverse Dance Festival.” This multiplayer rhythm VR game, initially available on the Oculus AppLab and soon to be launched on Meta and Playstation, showcases the company’s commitment to merging gaming innovations with enterprise product development. By leveraging these synergies, AutoVRse aims to deliver cutting-edge immersive experiences tailored to the needs of its enterprise clients.
Transforming Industries with Immersive Technologies:
AutoVRse recognizes the transformative potential of VR technology across diverse industries. The company’s enterprise solutions provide enhanced safety measures and bring an element of enjoyment to work and training, particularly benefiting factory workers in large-scale manufacturing companies. With the help of the seed funding, AutoVRse will unlock the full potential of VRseBuilder and introduce “District M” to a broader audience.
Lumikai’s Confidence in AutoVRse’s Vision:
Lumikai, a leading investor in the seed funding round, commends AutoVRse for its technological advancements and scalable VR-led solutions for heavy industries. Salone Sehgal, founding general partner of Lumikai, believes that AutoVRse’s focus on innovation, combined with its state-of-the-art gaming labs, positions the company as a global leader in delivering VR experiences. Lumikai’s investment demonstrates their trust in AutoVRse’s potential to create enduring AR/VR solutions.
Lumikai’s Commitment to AR/VR Startups:
Lumikai recently launched its second fund, with a total corpus of $50 million, dedicated to investing in early-stage companies within the AR/VR industry. By backing AutoVRse, Lumikai reaffirms its commitment to supporting innovative companies that shape the future of immersive technologies.
Looking Ahead:
With Lumikai’s support, AutoVRse is poised to enhance its enterprise offerings and expand its presence in the United States. As the AR/VR market continues to evolve, AutoVRse’s dedication to pushing the boundaries of immersive technologies positions the company for a promising journey towards becoming a key player in the industry.
-Prisha Jaiswal