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AutoVRse Secures $2 Million In Its Seed Funding Round Led by Luimikai

AutoVRse said that the capital infusion will be diverted towards augmenting its team with top-tier talent, spearheading expansion efforts in the United States, and expanding its product suite.

AutoVRse Secures $2 Million In Its Seed Funding Round Led by Luimikai
AutoVRse Team

Outlook Start-Up Desk

POSTED ON February 21, 2024 11:48 AM

AutoVRse, a VR/AR tech start-up has raised $2 million in a funding round led by Lumikai. The homegrown profitable brand has 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, it said in a release. 

The company added that the funding will utilised to further enhance AutoVRse's foundational enterprise product, VRseBuilder.  

VRseBuilder is an end-to-end modular technology stack and SAAS platform to integrate VR into workflows of industries like manufacturing, construction, engineering, oil and gas, and automotive, replacing ineffective manual instruction and/or expensive simulation techniques for purposes ranging from safety training to sales and collaborative remote work. 

Additionally, the capital infusion will enable AutoVRse to augment its team with top-tier talent, and spearhead expansion efforts in the United States, 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. 

270 million accidents occur in heavy industries, costing them $1.25 trillion globally. VrseBuilder is a one-stop, self-serve, modular, SAAS-style platform that empowers large organizations to effortlessly create, deploy, and manage VR training solutions and applications at scale, in real-time, across the world.  

The company also leverages its state-of-the-art, in-house game studio for cutting-edge research and development while building District M, the Multiverse Dance Festival - a social, multiplayer, rhythm VR game. The game's demo was launched on the Oculus AppLab two years ago and will soon be launched on Meta and PlayStation.   

Co-founders of AutoVRse, Ashwin Jaishanker, and Adarsh Muthappa, enthusiastically shared their outlook for the company's future, saying, “Our enterprise solutions offer a world-class, ready-to-use, modular technology stack with SAAS-enabled deployment for purposes ranging from worker safety training to sales training and remote work design collaborations. Our vision is to build a foundational VR-OS (VR operating system) for enterprises, alongside world-class, meaningful, social, and fun experiences for consumers.”  

Speaking on the announcement, Salone Sehgal, founding general partner of Lumikai, said, “AutoVRse’s technology and solutions for enterprises, compete with the global best. Their focus on innovation and providing scalable, VR-led solutions for very real problems facing heavy industries, coupled with their innovative, state-of-the-art gaming studio, is a powerful combination—paving their rise to becoming a world leader in the VR space. At Lumikai, we are super excited to be lead investors and partner with Ashwin, Adarsh, and the AutoVRse team to build a world-class, enduring AR/VR company.” 

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