Bengaluru-based mirrAR, which shifted its focus to the AR industry in 2017, is now eyeing expansion into the US market with the goal of establishing a multinational AR company based in India. They intend to utilise a recent funding received from Diaspark Inc., a strategic US investor, to accelerate product development, enhance their tech stack, expand their workforce, and tap into the lothing and fashion industries, beyond beauty and jewellery.
MirrAR’s technology empowers brands and retailers to provide 3D and 360-degree shopping experiences on websites, mobile apps, and social platforms through their 3D Commerce Cloud. This enables customers to virtually try on products and interact with them in their real-world setting, enhancing the shopping experience and providing more information for informed decisions.
Studies from reputable organisations such as Aberdeen Group and Gartner underscore the significant potential of AR in boosting customer satisfaction and driving increased sales. The augmented reality and virtual reality market is poised for substantial growth, projected to increase from US $ 27.96 billion in 2021 to US $ 252.16 billion by 2028, with an estimated CAGR of 36.9 per cent during 2021–2028, as per Insight Partners.
MirrAR has also welcomed Marty Hurwitz, CEO and Founder of THE MVEye, to its advisory board, bringing over three decades of experience in the gem, jewelry, and watch industries. This addition positions mirrAR in a better fashion, reshaping the future of retail.
While mirrAR aims to make its mark, there are already thriving international virtual try-on companies in the apparel industry, leveraging virtual fitting technology. Some notable examples include 3DLOOK’s YourFit solution and PicoFit, a virtual try-on plugin for online fashion shops. Mumbai’s Textronics, established in 1990, has also enhanced competitiveness by introducing Design & 3D visualization tools in 2016, optimising sales, design communication, and enabling e-commerce.
