In December 2020, Adloid rebranded to Metadome after raising $4 million (about Rs 30.3 crore) fund from venture capital firms Chiratae Ventures, 100x Entrepreneurs, Seeders, and eyewear e-commerce shopping platform Lenskart, enabling the company to push for its 2023 goal of building a metaverse that can host a million of immersive experiences daily. The B2B augmented reality technology provider has also been one of the cohorts of SAP.iO Foundry Bangalore and SAP Startup Studio program in the same year.
The COVID-19 pandemic has further accelerated the adoption of the already indispensable e-commerce driven by the increasing number of mobile users worldwide. According to a report shared by Statista, the number of digital buyers has escalated to a whopping two billion in 2020, contributing to over 4.2 trillion US dollars in global e-retail sales that year. Today’s online platforms that both target B2B (business-to-business) clients and individual consumers offer a more diverse digital experience– from browsing to comparing and purchasing products and services.
Bangalore-based AR/VR company Adloid is one of the AR platform providers that have been delivering enhanced customer experiences for online shoppers even before the global health crisis disrupted businesses across industries. Most importantly, the startup company has been at the forefront of e-commerce transformation, offering a platform powered by augmented reality technology to deliver a complete 3D experience to companies and end customers.
Founder and CEO of Adloid, Kanav Singla, shared:
“Our AR platform gives consumers and companies personalised virtual shopping and training experiences, expanding the horizon of what AR can do for any brand or company. We’re making the benefits of this technology more accessible and contextual to create an immersive experience for customers or employees on an e-commerce Website or within applications, directly from someone’s mobile device.”
Delivering 3D E-Commerce Shopping Platform to Mobile Users
Accrediting the startup’s remarkable achievement in the AR space, Singla highlighted that collaborating with SAP through Startup Studio for India has helped establish the credibility and value of Adloid’s product iterations. Participating in SAP Labs India’s startup accelerator program enabled Singla’s team to gain access to SAP solutions like SAP Business Technology Platform as well as engage with SAP customers. He added:
“Working with a global leader like SAP gives our product immediate credibility because we learned what customers were looking for. Adloid is integrated with Qualtrics, SAP Commerce Cloud, and SAP S/4HANA, helping companies connect data to become intelligent enterprises.”
Singla has recognised early on the major gap in e-commerce which is letting customers experience the products. With the launch of Adloid, he was able to deliver a virtual experience to customers via their mobile devices, essentially transforming e-commerce into 3D commerce. He emphasised that the AR platform is a powerful sales channel that allows users to create a personal shopping experience by interacting longer with products and making a more informed purchase on a single online session.
Adloid has been empowering various industries including automobile, home-decor, food & beverages, and electronics, among others, to deliver an immersive purchasing experience to customers. Tata Consultancy, Asian Paints, Hewlett Packard, and Titan EyePlus are some of the AR technology specialist’s clientele. Leveraging Adloid’s AR platform, some of the company’s customers have achieved up to 200{aa282f308afcc222aaa21b0478c79e01a8fedd01972e2180867097bd93930f22} online sales conversions and have witnessed enhanced customer engagement such as longer viewing time for images and videos from an average of 30 seconds to eight minutes.
“We expect AR will provide immersive experiences in more consumer and B2B online sites including fashion, travel, and tourism, and large industrial machinery,” Singla commented.
