AR/VR Startup AutoVRse Bags Seed Funding From Lumikai. The funding round also included contributions from Rajat Monga, the co-founder of TensorFlow and Inference.io, Yash Kotak, the founder of Jumper.ai, and Dhiraj Bansal, the MD of Accenture, among others.
The startup plans to use the newly acquired funds to enhance its core enterprise product, VRseBuilder, and to expand its operations in the United States. Additionally, they aim to increase their product range and team size.
AutoVRse, a virtual reality (VR) and augmented reality (AR) startup, has secured $2 million in seed funding led by Lumikai. Founded by Adarsh Muthappa and Ashwin Jaishanker in 2016, AutoVRse develops custom VR/AR applications for enterprises for various purposes such as experiential marketing, training, skill development, and design reviews.
Along with bagging seed funding, the company has also launched a multiplayer VR game called District M, the Multiverse Dance Festival. The game, initially introduced on the Oculus AppLab two years ago, is set to launch on Meta and Playstation platforms soon. The gaming division collaborates closely with the enterprise division to integrate innovations into product development.
Furthermore, AutoVRse aims to intensify its expansion efforts in the United States, enhance its product portfolio, and increase its team size. It plans to establish a B2B sales team in the US to drive lead generation and market expansion.
Adarsh Muthappa and Ashwin Jaishanker expressed their excitement about the funding, highlighting their commitment to leveraging VR technology to enhance safety and make work and training enjoyable, particularly for factory workers. Salone Sehgal, founding general partner of Lumikai, praised AutoVRse’s innovative solutions and gaming labs, stating that they are positioned to become leaders in VR experiences.
Lumikai, which launched its second fund with a corpus of $50 million in June, aims to invest in 18-20 early-stage companies over the next few years, focusing on innovative ventures like AutoVRse.
