Emerging technologies like Augmented Reality and Virtual Reality are transforming the way people interact, experience and visualize things and businesses. The application of these technologies in various fields like fashion, beauty, architecture, healthcare etc. is changing the way the world looks at the diverse use cases and enormous potential that comes with them. According to a report, the global market for Augmented Reality and Virtual Reality is estimated to reach USD 766 billion by 2025, registering a 73.7% CAGR during the forecast period of 2018 to 2025.
With companies such as Google, Facebook, Microsoft and Samsung staking their fortune on the virtual reality market, there is more than enough room for start-ups to make an impact. Funding in this sector has also been on the rise due to increased belief in the prowess of these emerging technologies and their application in different sectors.
Here is a list of the top five startups innovating and disrupting the tech sphere in AR/VR in India:
Houssup: Houssup is basically an architectural company. It is a start-up by IIT Bombay and IIT Roorkee graduates with a vision of designing beautifully designed homes and hence Empowering Lifestyles. Houssup aims at substantially altering the conventional idea and hassles that go behind designing or renovation of space by inculcating technical interventions of modern visual technologies like Augmented Reality, Virtual tours & Artificial Intelligence and to create an end to end eCommerce platform for all the interior designing needs for designers as well as the consumer.
StyleDotMe: StyleDotMe is the fashion tech startup founded in 2015. They have formed an AR platform called MirrAR which is the world's first real-time AR software for Jewellers. The AR platform allows shoppers to try jewellery on digital platforms of client brands without actually having to wear the pieces and get instant fashion advice from experts, bloggers, and influencers around the world. While other platforms in the market require you to manually position the jewellery on yourself, StyleDotMe’s innovative AR tech works automatically on digitized versions of jewellery in real-time. It is being used by leading retailers like Tanishq, Amrapali, PC Jewellers, and Kalyan Jewellers.
Adloid: ADLOID is an augmented reality enabler. It is a B2B solution created with advanced technologies like AR, ML, and artificial intelligence (AI). The white-label product caters to retail and lifestyle companies, home decor and furniture makers, car manufacturers, and real estate developers. It helps these enterprises ‘augment’ retail trials and catalogues for their customers, thus offering a much richer and close-to-life shopping experience. The smart AR technology is custom-fitted for each client and can be accessed through smartphones, tablets or the mobile web.
Preksh: The product is based upon the 360-degree panoramic tour of a business or store, and created an overlay on the virtual tour to make it informative, interactive and intuitive for purchase. This enables users to not only to just walk-through but directly go to a place of their interest inside the business, get information about a product or item and do specific actions (say, add to cart or initiate purchase), interact with the business by sending a snapshot of their interest or even share the product or item of their choice in the social media.
Tesseract Inc: It is an Indian hardware company that has created the world’s first 360 Virtual Reality Camera. Its vision is to enable everybody to capture memories in 360 and VR to relive them as if they are in the same moment back again. It aims to completely transform the way you record, consume and share content. And all this with hardware/software completely innovated, designed and manufactured out of India. Their previous technologies such as Methane 360 VR are being used by companies like MakeMyTrip, Tistus (leading real-estate firm in Brazil), Solund House (leading real-estate firm in Denmark), Nestaway, Grabhouse and other top travel and real-estate firms in India.
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