Bengaluru-based startup Dybo—which specializes in product visualization technology for commerce—announced on Tuesday that it has raised INR 1.2 crore in a Seed round of funding.
The investment was led by Singapore-based venture capital firm Spanache, and saw participation from MicroD Inc chief executive officer, Manoj Nigam.
The company aims to utilize 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, 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. Currently, Dybo partners with online furniture stores to provide customers with an immersive experience.
“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 utilize 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 & offline store, while the powerful analytics visualize 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,” added Siddharth Mehta from Spanache.
Dybo currently works with some of the leading furniture brands and provides immersive solutions, thus, helping them with increasing customer engagement and satisfaction. Now, 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 plans to target other design-focused products like clothes, accessories, electronics, etc.