Akashaverse: India’s Groundbreaking Leap in Immersive Technology

Standard Chartered Ventures, in collaboration with KiyaAI, has launched Akashaverse, a pioneering platform merging social, entertainment, and commerce experiences, highlighting India's tech prowess. Former Standard Chartered MD Sanjeev Mehta leads this venture, aiming to reshape virtual experiences through VR, AR, and AI, debuting at Startup Mahakumbh 2025.


Devdiscourse News Desk | Updated: 24-01-2025 09:54 IST | Created: 24-01-2025 09:54 IST
Akashaverse: India’s Groundbreaking Leap in Immersive Technology
Harald Eltvedt, Operating Member, Global Head of Venture Building, Standard Chartered Ventures (Photo/ANI). Image Credit: ANI
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India is fast developing its reputation as a powerhouse for innovation and technology prowess, becoming a focal point with Standard Chartered Ventures, along with KiyaAI, unveiling Akashaverse. This cutting-edge immersive platform marries entertainment, social interaction, e-commerce, and lifestyle under one robust digital umbrella. According to Harald Eltvedt, Global Head of Venture Building at Standard Chartered, "India offers remarkable tech talent; it's recognized worldwide, especially in web and software sectors. Additionally, it's an ideal location to leverage our extensive network."

Harald further articulated India's swelling influence as a burgeoning economy poised to witness rapid ascension, particularly within its middle-class demographic, positioning it as a promising ground for new entrepreneurial ventures. This launch also signals the entrepreneurial foray of Sanjeev Mehta, the former Managing Director of Standard Chartered Bank, who ventured into the startup arena by establishing Akashaverse.

Sharing insights into his transition, Mehta expressed, "The startup space presents vast opportunities. Inspired by Prime Minister Narendra Modi's startup initiatives over the past nine years, I backed numerous startups with favorable outcomes. This led to presenting my startup idea to the bank, now actualized as Akashaverse." Backed by Bharatmeta, KiyaAI's platform offers boundary-breaking virtual experiences, including pilgrimages and tailored events worldwide, heralded to reshape traditional constraints.

Akashaverse will formally debut at Startup Mahakumbh in 2025, focusing initially on India. With an innovative mix of 360-degree imagery, virtual reality, augmented reality, and artificial intelligence, it endeavors to transform event bookings, virtual pilgrimages, and the online retail experience.

Moreover, the platform aims to furnish corporate clients with real-time customer engagement insights, paving the way for novel distribution avenues. (ANI)

(With inputs from agencies.)

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