Scaling Industrial Transformation
Bengaluru-based industrial AI transformation platform AutoVRse has successfully raised $2.4 million in a funding round co-led by Singularity AMC and existing investor Lumikai. This infusion of capital follows a $2 million seed round in early 2024, signaling strong investor confidence in the company’s rapid growth trajectory.
Platform and Traction
Founded in 2016 by Ashwin Jaishanker and Adarsh Muthappa, AutoVRse leverages VR, AI-powered smart glasses, and mobile applications to provide training and real-time field guidance for industrial operations. The company has demonstrated impressive scaling, boasting:
- Over 50 enterprise clients globally, including Amazon, Shell, ExxonMobil, and Bosch.
- More than 500,000 active users.
- Achievement of $8 million in ARR within just 12 months of global product rollout.
- 250% year-on-year revenue growth.
Strategic Path Forward
The company plans to utilize the fresh funding to deepen integrations with existing customer infrastructure and aggressively expand its go-to-market presence in North America. By focusing on international markets, which now account for nearly 50% of their revenue, AutoVRse is positioning itself as a primary player in the industrial metaverse and AI-guided workforce sector.
Founder Takeaway
AutoVRse’s journey highlights the critical importance of vertical-specific AI. By solving high-stakes training and operational efficiency problems for industrial giants, the company has built a sustainable and rapidly scaling revenue model that transcends regional boundaries.