Hyderabad-based Imaginate, a Virtual Reality (VR) and Augmented Reality (AR) company, is the developer of NuSpace, a hardware-agnostic collaboration platform that enables people to communicate in an interactive realistic virtual world. NuSpace was rated as the most innovative and high potential product by Nasscom in 2016. Imaginate today is present in virtually every sector from defense to retail.
“Our product NuSpace is like the Webex of VR and AR. It will revolutionise the way people collaborate and learn by leveraging the best of both—a physical classroom-like environment and the ease of a digital conferencing platform like Webex or Skype,” explains Satyanarayana, the company’s Founder. NuSpace finds utilisation in specialised industrial training, engineering design, remote maintenance and repair.
“With just a 2 Mbps connection, every NuSpace user can communicate with others across geographies through their realistic avatars. This is less than the minimum internet speed that a HD video connection would need,” he says.
With NuSpace, it does not matter what mixed reality gear the wearer is using as NuSpace is hardware agnostic, making it easy for companies to hop on to the platform. They are working on a few pilots with large corporations.
Some of the popular collaboration platforms in VR include AltspaceVR and vTime that operate in the social networking space.
The imagination at Imaginate has not stopped with commercial and field level implementations as they want to enter medical education with specialised solutions like LiVAR (an AR solution that indicates open liver surgery – it processes the CT scan of liver and generates a 3D model with tumor bodies.)
With a revenue target of Rs 6 crore, Satyanarayana is aiming for Rs 100 crore turnover in the next five years besides entering the US market with more AR and VR solutions. In the line, are more AR/VR solutions in the fields of retail, defence, entertainment and healthcare. The start-up raised about Rs 3.5 crore from SRI Capital, a seed stage venture fund based in Philadelphia recently.