Seoul-based AR startup Letsee Inc announced its plans to enter the Indian market through an alliance with Bengaluru-based technology company Divum Corporate Services.
According to the official statement, the alliance is aimed at creating opportunities to build and scale augment reality (AR) based solutions to enhance its use and experience in the Indian market.
Founded in 2014 by Sangchul Ahn, the startup develops software to publish augmented reality content on the web. Its product WebAR SDK enables users to create and publish AR content without the need for downloading any mobile applications.
Letsee, which was a part of the startup programme by NIPA (National IT Promotions Agency, South Korea) is looking to contribute to the Indian augmented reality market in partnership with Divum.
“Letsee is excited to have a partner in India that is capable of building WebAR solutions using our technology. Over the last few months, we have been connecting with multiple India partners through NIPA and Nilah Advisors who have supported us tremendously in this effort,” Sangchul Ahn said in a statement.
This development comes ahead of the launch of Letsee’s new product named No Code WebAR Authoring Tool in November this year. This product is aimed at contributing to frictionless augmented reality experience and also enables anyone without a technical background to create and publish AR content on the web.
According to a report by TechSci Research, the Indian AR and virtual reality market stood at $1.83 billion in FY2020 and is expected to grow at a CAGR of 38.29 percent until FY2027.
Bengaluru-based Divum was founded in 2008. It specialises in new product development across design, cloud, web, mobile, analytics, IoT and AI, machine learning, and blockchain solutions. According to the company, India is now witnessing disruptive possibilities using AR across industries.
“India is witnessing disruptive possibilities using AR for industries ranging from real estate to automotive, healthcare to education and more. Like Google’s Progressive Web App enabling mobile app-like experiences on the web, Letsee’s WebAR technology is removing the need/friction for users to install a mobile app to experience AR. With our partnership with Letsee, Divum is excited to support building more AR products/solutions in India.” Vaideeswaran Sethuraman, Founder and CEO of Divum Corporate Services said in a statement.