mirrAR secures Rs 13 crore of investment to revolutionize beauty & jewellery industries with AI, AR innovations

The round is led by Diaspark Inc, a US-based strategic investor along with the Indian Angel Network. Other brands investing include angel investors from Sugar Cosmetics, Whatfix, Posist, Dailyhunt, Microsoft, Kotak Mahindra Bank, Alagu Periyannan, and BlueJeans by Verizon

Bangalore – mirrAR.com, a portfolio company of Styledotme Fashion & Lifestyle Pvt Ltd and a pioneering force in augmented reality, has recently raised Rs 13 crores in an investment round led by Diaspark Inc and India Angel Network (IAN).

Other prominent angel investors included Vineeta Singh & Kaushik Mukherjee, Co-founders of Sugar Cosmetics, Khadim Batti, CEO and Co-founder of Whatfix, Ashish Tulsian, Co-Founder & CEO of Posist, Umang Bedi, Co-Founder of Dailyhunt, Aparna Chennapragada, CVP at Microsoft, Dipak Gupta, MD at Kotak Mahindra Bank, Shanti Ekambaram, Whole-Time Director at Kotak Mahindra Bank & Alagu Periyannan, Founder of BlueJeans by Verizon.

Founded by Meghna Saraogi and Lalit Vijay, mirrAR.com is poised to seize a significant share of the market by 2025. “I’m very intrigued by the potential of what can be done with the business and the technology that has been built. We’re looking forward to joining forces as their partner & I wish the team the best,” added Abhishek Chhajlani, Chief Operating Officer at Diaspark Inc.

mirrAR, the AR/AI solution, redefines the way customers engage with brands inside the physical boundaries of stores and also, across their online channels. With a current employee strength of 30, the company now has 50+ clients including Tanishq Jewellery, De Beers Forevermark, Titan watches, and more. mirrAR has witnessed accelerated growth for their portfolio brands in the last couple of years, with the post-integration impact of the technology hitting a solid 35% increase in conversions and a 160% increase in customer engagement, with over 100,000 hours of virtual try-ons in 2022 alone.

“While we’re constantly innovating for the jewellery industry, we’re very excited about taking over the beauty and wellness industries too. They have always been about staying ahead of the curve, with a linear focus on creating memorable customer experiences. With mirrAR, we’re redefining that curve by making it more digital, immersive and experimental. With our AR and AI technology, we are personalising and offering pre-visualisation makeup experiences globally to cater to these evolving needs,” added Meghna Saraogi, Founder & CEO, mirrAR.com.

The startup will use the fresh capital to enhance its growth by developing new business functions, advance innovation of its platform, strengthen its product, engineering, and design teams in India, and go-to-market teams in the US and Asia Pacific regions.

Retail Jeweller India News