AUGMENTe Bridges Physical & Physical Marketplaces
AUGMENTe TechStudio LLC received the Rice Alliance “Most Promising” IT & Web Award at the Rice Alliance for Technology and Entrepreneurship Investor event earlier this year. This vote of confidence in the company’s readiness for further investment into AUGMENTe’s capital strengthens its potential to grow significantly in the coming years.
The Rice Alliance award follows other recent and significant milestones in the company’s development. AUGMENTe recently landed its first volume contract, validating the company’s business model and its scalability.
AUGMENTe’s extensive library of proprietary software modules bridge the physical and digital worlds to enable retailers to offer remarkable consumer experiences that entertain, engage, educate and convert lookers into shoppers. Smart phone, tablet, laptop, desktop, wearable or TV – they can design, try, share and buy products, anytime, anywhere. If they can see it, they can instantly buy it.
We offer the retail industry the Next Generation Shopping Platform based on the latest technologies such as Augmented Reality(AR), Mobile Technology, Internet of Things (IoT) and Business Intelligence (BI) in a SaaS model.
- E Commerce
- Mobile Commerce
- Social Commerce
- Catalog Commerce
- In-Store Commerce
Augmented reality? Isn’t that for video games and entertainment?
Exactly. Augmented reality is already here. And people love it. Now we’re going to bring it to the rest of your life.
Why do you think customers will embrace AR in their everyday real life?
Steve Jobs once said, “Customers don’t know what they want until you show it to them.” While AUGMENTe’s philosophy is to engage customers actively, Mr. Jobs’ point was that innovation will inspire customers more than anything else. Show them something unexpected that they love and you will benefit far more than simply showing them something standard or old-fashioned.
AR products have already begun to have an impact on our world. Now AUGMENTe apps allow interaction of a completely different nature, removing the customer from their physical location and during purchasing decisions, and placing them virtually inside a product or store.
AUGMENTe makes dreams come true for both customers and businesses by layering the reality we inhabit with new digital content, transforming any place, scene or object – ordinary or not – into a hybrid reality.
What’s the latest at AUGMENTe?
AUGMENTe TechStudio recently received the Rice Alliance “Most Promising” IT & Web Award at the Rice Alliance for Technology and Entrepreneurship Investor event in Houston, January 19 – 20 2017. This was an amazing vote of confidence in our company’s readiness for further investment into AUGMENTe’s capital and strengthens growth potential significantly for the coming years.
AUGMENTe recently landed its first volume contract, a real validation our business model and its scalability and another significant milestone in the Company’s development.
Who are you when you aren’t wearing your AR hat?
As with most startups, Sundar Moorthi, founder and CTO of AUGMENTe has worn many hats while growing the Company from his “garage” to its recognition as “Most Promising 2017 Web and IT Company” in the recent Rice Alliance Venture competition.
“I’m a technologist in all things and a great fan of automation. Some of my colleagues say it’s my middle name. My background has been in developing various innovative high tech products in many different verticals for Fortune 100 companies such as JPMorgan, Verizon, Kaiser Insurance, AllBusiness, Flutter.com and others, and it’s been a major contributing factor to our current growth and success.” says Sundar. “Running a startup company is more than a full time job, but I am also an avid runner and put several marathons behind me every year while keeping up with the busy schedules of my wife and two daughters (7 & 12).”
Where should we look for AUGMENTe in the marketplace?
In fact, we are already out there. Don’t believe it? You will. Here’s a heads up on five retail verticals currently either undergoing or poised to undergo an augmented reality transformation.
Jewelry – $275 Billion
Why the industry is ripe for disruption: Jewelry is one of the most competitive industries in the world, as evidenced by the industry’s two-year hot streak (nearly 17% growth). Smaller, independent jewelry stores without prime location or a built-in customer base will likely struggle against larger companies and stores, but savvy companies with the smarts to leverage AR to their advantage with TRY-ON technology will thrive.
Furniture – $30 Billion
Every home owner, apartment or dorm dweller needs places to sit, eat and sleep – and everyone has their own unique sense of comfort and style. The furniture industry provides those places in any combination of color, texture and material you can dream of.
Why the industry is ripe for disruption: Taking a couch home to see how it looks in the living room isn’t cost-effective. AR allows you to see what a piece of furniture looks like in your home before buying it. It preserves the emotionally positive part of the process that allows buyers to try out different furniture and creates a new standard of convenience in furniture shopping.
Media – $5.7 Trillion
Media is one of the largest and most consistently disrupted industries, constantly on the lookout for ways to evolve their revenue model and seeking disruptive measures in an effort to differentiate themselves.
Why the industry is ripe for disruption: Today media is scrambling to determine a new model. Print is in a downward spiral while digital ads strive to secure the trust of consumers. The media groups that are doing well are the ones who have embraced alternate business models. AR is the answer to the question, “Where is media headed next?”
Clothing – $200 Billion
If there is any industry more visual than jewelry, it’s clothing. Major fashion brands, generic clothing manufacturers and independent artisans all around the world vie for our attention, dollars and space in our closets.
Why the industry is ripe for disruption: The in-store shopping model was already largely disrupted by online orders, but certain elements of the in-store experience have been difficult to replace— until now. Mobile application technologies have made it as simple as “pose and click” for shoppers to create their own instant connection with a product. AR is perfect as a medium to show people entire outfits without them ever having to leave their homes.
Eyewear – $130 Billion
Want a new pair of shades? So do many thousands, perhaps millions of other shoppers around the world.
Why the industry is ripe for disruption: Eyewear sales are still firmly lodged in the in-store model. Augmented reality is ready to change that, allowing shoppers to ‘try-on’ frames in real time at home.