AR/VR tech startup AutoVRse announced the successful closure of a USD2 million seed funding round. Leading the round was Lumikai, a gaming and interactive media-focused venture capital fund, indicating the increasing interest of the investment community in immersive technologies.
The funding will primarily be utilized to further enhance AutoVRse’s foundational enterprise product “an end-to-end modular technology stack and SAAS platform to integrate VR/AR into workflows of industries like manufacturing, construction, engineering, oil, and gas, automotive, replacing ineffective manual instruction and/or expensive simulation techniques for purposes ranging from safety training, sales, and collaborative remote work.”
Much of the funds will go toward expanding VRseBuilder, the company’s flagship enterprise product. VRseBuilder provides a VR-led, end-to-end solution stack to prevent 270 million annual accidents in heavy industries, costing industries $1.25 trillion globally. This one-stop, self-serve, modular, SAAS-style platform empowers large organizations to effortlessly create, deploy, and manage AR/VR training solutions and applications at scale, in real-time, across the world.
VRseBuilder’s primary goal is to help organizations adopt VR at scale, easily. It consists of 4 components, namely:
● Readymade VR Content Library: 400 safety and process training VR modules designed with a modular, VR-centric design philosophy
● VR-Native Learning Management System: Schedule sessions, assign modules, access performance reports, and observe evaluation metrics in real-time, offering unparalleled training flexibility
● Deployment Platform & Knowledge Repository: A secure web dashboard that helps IT and Security teams manage VR users, devices, and content by seamlessly integrating with LMS and SSO systems, allowing users to upload videos and PDFs and manage the organization’s VR knowledge repository
● Unity SDK + Infinity Workshop: Rapidly prototype VR apps with our no-code editor and a massive library of modular blocks (assets, templates, and fully finished VR training modules)
It will also enable AutoVRse to augment its team with top-tier talent, and spearhead expansion efforts in the US and expand its product suite. The company also plans to set up a B2B sales team in the US to drive qualified lead generation and facilitate market expansion.
This marks a significant milestone in AutoVRse’s journey, having already delivered cutting-edge VR solutions to multiple Fortune 500 companies and industry leaders including Shell, Godrej, Bosch, Tata Motors, Ultratech Cements, Aditya Birla Group, and many others.
