August 20, 2024, 10:04 a.m. EDT | Source: Baden Bower
Summary: Metadome.ai secures $6.5 million in Series A funding led by Siana Capital, with participation from Chiratae Ventures and others. The investment will enhance its XR and AI capabilities in home decor, e-commerce and mobility, and aims at rapid global expansion and improved customer experiences.
Photo courtesy of Metadome.ai
Troy, Michigan–(Newsfile Corp. – August 20, 2024) – Extended Reality (XR) startup Metadome.ai, which specializes in enabling sales using Virtual Reality (VR) and Augmented Reality (AR) solutions, has raised $6.5 million in its recent Series A funding round. The funding was led by Siana Capital and existing investor Chiratae Ventures, with new participation from Alteria Capital, 3to1 Capital and Manish Choksis Family Office. The company plans to use the investment to expand its efforts into new geographies and enhance its capabilities to deliver advanced XR combined with advancements in AI.
Improve customer experiences and identify growth
“Consumers often have problems surfing online and offline,” says founder and CEO Kanav Singla. “We develop products in the home decor, e-commerce and mobility categories to create the most profitable and exciting journey. Our proprietary XR platform and advanced AI technology help us achieve this goal faster.”
Metadome.ai has grown organically and its customer base has expanded since last year. The company is also part of NVIDIA’s Inception and Google Startup programs and has been named “Best AR/VR Company” two years in a row.
Investor confidence
A spokesperson for Siana Capital expressed confidence in Metadome.ai’s vision, stating: “We believe in the potential of combining augmented reality and AI to create immersive experiences. Our investment reflects our confidence in Metadome.ai’s vision and its ability to lead the global market in delivering solutions.”
Chiratae Ventures Founder and Vice Chairman TC Meenakshisundaram reiterates the company’s approach: “Metadome.ai has changed customer engagement for the better with its XR platform, enabling companies to go live and convert customer engagement into business almost instantly. We expect Metadome.ai to expand rapidly globally, even beyond our borders.”
Scaling and setting
“This round of financing will help Metadome.ai to further scale systems and hire experts,” says Chief Technology Officer (CTO) and co-founder Kartik Kanaujia. “We look forward to expanding our capabilities to build a strong team and technology.”
The capital injection from well-known investors shows confidence in the potential of customer-centric XR technology. According to Statista, an investment of $1.9 billion shows how important AR and VR are for improving customer service, logistics and retail experiences.
Global expansion
“With this funding, Metadome.ai aims to double its position in markets such as the US, Southeast Asia and the Middle East,” says co-founder and Chief Operating Officer (COO) Shorya Mahajan. “We are advancing our mission to provide our customers with unparalleled XR and AI capabilities to facilitate informed product discovery and purchasing decisions.”
Akshat Saxena, Senior Vice President (SVP) of Alteria Capital, added: “We are excited to partner with Metadome as they continue to build a global product company from India. Their focus on finding the right GTM for overseas markets and this capital raise puts them in a strong position to grow the business and achieve desired milestones for all stakeholders.”
About Metadome.ai
Metadome.ai is a leading XR company specializing in immersive AR, VR and AI-driven solutions for home décor, e-commerce and mobility. The company is expanding its global presence and enhancing its technology offerings to further transform customer engagement in key industries.
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