Last updated: Dec, 2016
As businesses change rapidly to embrace new technologies, innovations in the field of augmented reality (AR) and virtual reality (VR) have revolutionized customer buying experience. Mr Hemanth Satyanarayana, the founder of Imaginate Software Labs, having spent a decade working in the VR/AR space, got the idea of creating something in this field while shopping in a textile shop in India. Its flagship product Dressy, a virtual trial room, got good response from clients as well as went on to win the MIT TR35 Innovator of the Year Award.
Some of the other products developed by the company include Augmented Manual, HeritageAR, ShootAR, and NuSpace. NuSpace even received the Most Innovative and High Potential Product Award at the NASSCOM Product Conclave, 2016. They currently service only corporate clients. The company’s revenue grew by about 2-2.5 times in FY 2015-16 after growing at 1.5 times a year earlier and they are optimistic about this year also. The company expects its NuSpace product to grow at least four to five times its flagship product.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.