[Funding alert] Visual tech startup Dybo raises Rs 1.2 Cr from US and Singapore investors
The company aims to utilise a significant portion of the funding to refine Dybo360 and DyboAR, the flagship products by Dybo, making them even easier to adopt and integrate.
Bengaluru-based visual tech startup, which specialises in product visualisation technology for commerce, on Wednesday announced that it has raised Rs 1.2 crore in a seed round of funding. The investment is led by Spanache, a Singapore-based venture capital firm, and saw participation from Manoj Nigam, the CEO of Inc.
The company said it is looking to utilise a significant portion of the funding to refine Dybo360 and DyboAR, the flagship products by Dybo, making them even easier to adopt and integrate. The remaining funds shall be used to expand their team and work on some of the upcoming out-of-the-box concepts that will help the company to elevate to the next level.
"To be backed by Spanache, one of the most prestigious VC firms in the industry, is like getting a double thumbs-up for our idea. We are on the right course in our mission to challenge the status quo by developing gratifying experiences with visual technologies. We are very hopeful to snowball and expand our markets across geographies with our technological and design abilities,” said Dhawal Jain, Founder at Dybo.
Dybo, co-founded in 2019 by BITS Pilani alumni Dhawal Jain and Aman Kumar, aims to disrupt online and offline stores using its visual technologies. At present, the startup partners with online furniture stores to provide customers with an immersive experience. With Dybo, customers can play around with a product's colours and materials to match their preferences and try it in their home before they buy it.
Siddharth Mehta from Spanache added,
"We are super excited to join hands with Dybo, as we feel the founders have created a fantastic product/company that is globally scalable. Every design-focused product brand must utilise CGI and AR for commerce, and Dybo undoubtedly has the best platform for it. Dybo's easy-to-use technology easily integrates with any online and offline store, while the powerful analytics visualise the most important data to give intelligent insights.”
“Looking at the vast potential of the market, the founders' capability, and passion, we feel our investment is a win, and we are even looking forward to investing in the next round,” Siddharth added.
Currently, Dybo is associated with 50 designers and brands globally, and in the last six months, it has produced over 9.5 trillion photorealistic product visuals. The startup has aggressive plans to target other design-focused products like clothes, accessories, electronics, etc.
Edited by Megha Reddy