AR-based App peAR Raises Rs 4.2 Cr In Pre-Series A Round
peAR, an augmented-reality based in-restaurant ordering app, has raised Rs 4.2 crore in a Pre-series A round led by 1crowd and Chennai Angels and co-Led by Inflection Point Ventures (IPV).
As per the startup, the raised funds will be utilised to scale the company’s current suite of solutions across geographies and to address more restaurant challenges. The startup also plans to build a suite of integrated restaurant-tech solutions.
peAR | 3D Model Tech
Founded in 2019 by then-college students Dharmin Vora, Dhruvesh Mehta, and Parth Vora, peAR has developed an AR application-peAR-Food Menu for restaurants to offer customers the chance to watch the entire menu in 3D AR before they place their order.
Leveraging its proprietary image-to-3D Model tech, peAR makes 3D Models of the food at scale, thus being able to convert boring paper menus into interactive 3D Menus.
Speaking about the development, Dharmin Vora, Founder, peARsays,
“Our association with IPV has been wonderful from the beginning. They have backed us time and again & this just shows their approach to back their startups. Their guidance and CXO members helps us create a wide pool of people whom we can connect with and learn from. They have also done a fantastic job on keeping the members active & involved in every manner. Their immense support & efforts stands out amongst all investors.”
The startup is working with a vision to change the way people view and order food inside a restaurant.
peAR helps restaurants upsell better-looking dishes. And as orders are also placed digitally, restaurants can now have the valuable data they were missing out on for the dine-in customers. As per the startup, the dine-in market is four times larger than the delivery market in India. peAR is trying to address the dine-in market and help restaurants increase their bill value.
Commenting on the development, Mitesh Shah, Co-Founder of IPV said,
“Post covid, the Horeca sector has been adopting tech on the front end to further refine the dining experience of the customers. From QR-coded menus to digital payments integration is now a norm across restaurants. However, the first POC is when shortlisting the order. We have seen the adoption of peAR’s tech rising steadily and decided to back the company in this round also.”
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