Company name: Avenue Planet
Headquarters: Pipeline Brickell in Miami
Concept: Avenue Planet is developing a first-person, fully immersive 3D and virtual reality-based shopping experience platform. Users will be able to walk down 12 of the most famous shopping avenues on the planet (including Lincoln Road, Rodeo Drive, London’s Oxford Street and Tokyo’s Ginza), and browse and buy from some of the best stores in the world from the comfort of their own homes. Users simply plug their smartphones into a pair of VR-enabled goggles and are instantly transported to a premier, international shopping plaza.
Story: When coming up with the idea for Avenue Planet, the company’s founding members had a clear mission: to deliver content in a digital environment that feels as though it is being experienced in the real world. With today’s advances in 3D development and the recent penetration of virtual reality (VR) headsets across the global markets, the vision for Avenue Planet is becoming a reality. The company is moving ahead with plans to deliver a platform where the lines between the offline, online and real word user experience start to fade.
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Avenue Planet began its Miami operations in February 2014. The company’s corporate headquarters is based out of Pipeline Workspaces’ Brickell location with a development center in Barcelona and satellite offices in Porto and London. Avenue Planet launched the world’s first virtual reality art gallery at Art Basel in 2015. “We believed the international audience and diverse attendance of this international art fair would be the perfect venue to debut our VR platform that enables artists to tell the story behind their work in a different way with a completely immersive experience,” said Kabir Frutos, who directs the company’s North and South American business activities, its principle market, and recruits and manages the brands within the platform.
What would make impulse buying even easier for Avenue Planet’s window shoppers? The company recently finished its proprietary payment technology allowing for seamless in-app purchases. The company is entering its final stages of development, and its platform will be ready to launch in the coming months. The Avenue Planet team is planning its launch campaign and working to secure partnerships with headset manufacturers in order to provide users with the best possible experiences.
Founded: Avenue Planet was founded in 2011 with virtual reality becoming its main focus in 2014.
Management team: Two founding partners, Bruno Carvalho and Sanjay Daswani, with an executive team that includes Kabir Frutos, North and South America director; Franco Casado, head of design and creative director; Cesar Couto Ferreira, head of Marketing and Partnerships; Daniel Abad, technology director and head of VR payment system; Filipe Mezquita, head of brand and advertising; and Hector Zapata, strategic technical director.
No. of employees: 19
Financing: Founder funded with $450,000; $250,000 in early stage funding; and, of course, much sweat equity.
Recent milestones reached: Created final version of first virtual reality payment system that does not require the use of a keyboard or input device, allowing for seamless in-app purchases and transactions; added five prominent brands to the Avenue Planet platform; acquired three strategic partners.
Biggest startup challenge: A lack of public knowledge around virtual reality. “This means that anyone that is brought into our ecosystem must experience the platform first-hand, which can present logistical challenges as we work with brands all over the world,” Frutos said.
Next step: “We are finalizing Lincoln Road within our platform, which will feature approximately 10 brands and 15 experiences, in time for our Q4 2016 launch event. We will also be making a formal announcement to the media that will include all the exciting companies and celebrities we are working with,” Frutos said. Stay tuned.
Strategy for next step: Continue building upon current relationships and establish new ones with people, partners and brands that want to invest and/or become part of this new ecosystem that will be used by many to access great content and live unimaginable experiences.
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