Mayaaverse: Bringing the Metaverse to Life in India

Mayaaverse: The Indian Startup Bringing the Metaverse to Life

Mayaaverse

It was 2016 in the tech hub of Bangalore when two passionate technologists, Avi Sayyed and Vipul Agrawal, decided to take the entrepreneurial plunge. Having worked at cutting-edge companies like NVidia and Qualcomm, they were amazed by the potential of emerging technologies like augmented reality (AR) and virtual reality (VR). This inspired them to start Mai Labs with the vision of building innovative AR/VR products and solutions.

In the initial years, Mai Labs focused on developing industrial AR headsets and enterprise AR/VR applications for sectors like manufacturing, healthcare and automotive. Their first offering, the Mai Endure AR headset, aimed to revolutionize areas like remote assistance and training on factory floors. Securing seed funding gave them the initial thrust to pursue their ambitious vision.

However, as the startup world buzzed with talks of the metaverse – a convergence of virtual and physical worlds – Avi and Vipul realized the massive potential it held. Around 2020, they decided to pivot Mai Labs’ focus towards building for the metaverse opportunity that was just taking shape globally.

This bold move led to the conception of Mayaaverse – Mai Labs’ metaverse platform envisioned as an open, interoperable virtual environment enabling digital twins, immersive experiences, and collaborative virtual worlds. Simultaneously, they developed the Lumyn XR VR headset for accessing the Mayaaverse..

As their metaverse dream took shape, the founders knew they needed substantial investment to scale up. Their perseverance paid off when they raised a whopping $24 million in Series A funding led by Mirae Asset in late 2022. This influx of capital set the stage for Mai Labs’ metaverse masterpiece.

Finally, in early 2023, amidst much fanfare, Mai Labs unveiled the Mayaaverse platform and the Lumyn XR headset to the world at a grand launch event. Their offerings aimed to cater to metaverse use cases across education, industrial training, gaming and more.

Initially, as Avi and Vipul now lead Mai Labs in charting new frontiers in the metaverse realm, their startup story stands as a testament to the grit, vision and technology prowess of Indian entrepreneurs venturing into uncharted digital territories. Moreover, their journey exemplifies the spirit of innovation and the drive to push boundaries. Furthermore, it highlights the immense potential of Indian startups to be at the forefront of emerging technologies like the metaverse. Additionally, Mai Labs’ story serves as an inspiration for other aspiring entrepreneurs to pursue their dreams and create a lasting impact. Consequently, Avi and Vipul’s entrepreneurial odyssey has paved the way for India to cement its position as a global hub for groundbreaking digital innovations. Ultimately, their startup tale underscores the power of perseverance, technical expertise, and an unwavering commitment to realizing bold visions.

ABOUT FOUNDERS

There are the two friends who started the company Mai Labs.

Avi Sayyed (Co-Founder & CEO)
Avi is the leader and master planner at Mai Labs. Before starting the company, he worked at big tech firms like NVidia and Qualcomm for over 15 years. His main expertise is in developing cutting-edge technologies like augmented reality (AR), virtual reality (VR), and advanced camera systems.

At NVidia, Avi worked on their VR project called Project Holodeck. He has a real passion for creating immersive digital experiences that blend the real and virtual worlds. As the CEO of Mai Labs, Avi decides the overall direction for the company and its big dreams like building the Mayaaverse metaverse.

Vipul Agrawal (Co-Founder & CTO)
If Avi is the planner, Vipul is the brilliant tech mind who makes things work at Mai Labs. Like Avi, he also previously worked at companies like Qualcomm and Lytro, specializing in areas like camera tech and computer vision.

Vipul is the technical architect who leads the engineers in actually developing amazing products like AR headsets and VR devices. He holds patents for his work in cutting-edge fields like light-field imaging cameras. As the CTO, Vipul ensures Mai Labs’ products have the latest advanced technologies.

Avi and Vipul first met and became friends while working together at a company called Lytro back in 2013. They shared an excitement about emerging technologies that could revolutionize how we see and experience the world digitally.

This shared tech passion motivated them to start Mai Labs together in 2016 to build their own innovative AR/VR products and solutions originally. And now they have pivoted the company towards the huge opportunity of the metaverse.

 

“Avi’s vision and Vipul’s technical expertise drive Mai Labs’ creation of immersive virtual worlds.” Consequently, through the Mayaaverse platform and Lumyn XR VR headset, they are bringing their metaverse vision to fruition. Moreover, their complementary skills and collaborative approach have been instrumental in driving the company’s pivot towards the metaverse opportunity. Additionally, their synergy as co-founders has enabled Mai Labs to develop cutting-edge products that could potentially revolutionize the way we perceive and interact with digital realms. Furthermore, their partnership is a testament to the power of teamwork and shared passion in pursuing ambitious technological endeavors. Ultimately, Avi and Vipul’s dynamic duo is propelling Mai Labs to the forefront of India’s metaverse landscape.

IN SUMMARY:
Founding
  • Mai Labs was founded in 2016 by Avi Sayyed and Vipul Agrawal in Bangalore, India.
  • The co-founders previously worked at companies like NVidia, Qualcomm, and Lytro.
  • They started Mai Labs to build cutting-edge augmented reality (AR) and virtual reality (VR) products and solutions.
Early Years
  • In the initial years, Mai Labs focused on developing AR/VR enterprise solutions for sectors like manufacturing, healthcare, and automotive.
  • Their first product was the Mai Endure AR headset targeted at industrial use cases like remote assistance and training.
  • The startup raised seed funding from investors like Sauce VC and AngelPrime in 2017.
Pivot to Metaverse
  • Around 2020-2021, Mai Labs started shifting focus towards building for the emerging metaverse opportunity.
  • They began developing the Mayaaverse as an open, interoperable metaverse platform to enable virtual worlds and digital twins.
  • In parallel, they worked on the Lumyn XR standalone VR headset as a metaverse access device.
Funding and Launch
  • In late 2022, Mai Labs raised $24 million in Series A funding led by Mirae Asset to scale its metaverse efforts.
  • They officially unveiled the Mayaaverse platform and Lumyn XR headset in early 2023 at a global launch event.
  • The startup aims to cater to metaverse use cases across education, industrial training, gaming and more with its offerings.

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