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Indian extended reality (XR) startups on growth trajectory

Economic TimesEconomic Times ยท 1y ago
Indian extended reality (XR) startups on growth trajectory
Medial

Indian XR startups are showing promising growth in the extended reality (XR) sector, with 76% of them catering to both domestic and international clients. The XR industry, including virtual reality (VR), augmented reality (AR), mixed reality (MR), and other technologies, is gaining traction in sectors like gaming, entertainment, education, health, and wellness. However, Indian startups face challenges in terms of global go-to-market strategies and distribution. Collaborative efforts between the government, academia, and private players are being made to strengthen India's XR foundation and foster innovation in this space. XR is expected to contribute $240 billion to India's economy by 2030, according to a report.

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Metadome.ai raises $6.5 Mn led by Siana Capital and Chiratae

EntrackrEntrackr ยท 11m ago
Metadome.ai raises $6.5 Mn led by Siana Capital and Chiratae
Medial

Extended reality (XR) startup Metadome.ai (formerly Adloid) has raised $6.5 million in Series A funding in an equity and debt round led by Siana Capita and existing investor Chiratae Ventures. New investors Alteria Capital, 3to-1 Capital, and Manish Choksiโ€™s family office also joined the new round. The company plans to use the investment to expand its business to new regions and develop capabilities to provide advanced XR technologies merged with advancements in AI, Metadome.ai said in a press release. With this backing, Metadome.ai aims to strengthen its presence in the US, SE Asia, and the Middle East regions. In December 2021, the Gurugram-based startup raised $4 million in its pre-Series A round led by Chiratae. Founded in 2016 by Kanav Singla and Shorya Mahajan, Metadome specializes in sales enablement using virtual reality (VR) and augmented reality (AR) solutions in home decor, e-commerce, and mobility. It works with Hewlett Packard (HP), Tata Motors, Hero MotoCorp, Asian Paints, and others. Since its inception in 2018, Metadome.ai has been growing organically and its customer base has more than doubled since last year, said the firm in the release. Recently, Metadome partnered with Hippo Homes to introduce a virtual reality experience at its new store in Greater Noida where customers can explore home improvement solutions. According to Statista, the XR industry has been managing significant interest from investors globally. As per the report, the space attracted an investment of $1.9 billion, outlining the importance of 3D, AR, and VR in improving the customer buying and post-sales cycle. The company is also part of NVIDIAโ€™s Inception and Google Startup programs. SmartVizX, Liminal, Embright Infotech, Scapic, and GMetri are some of the emerging companies from the extended reality space in India.

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