Angels shower funds on Chymera VR for more ads

BENGALURU: Chymera VR, a monetisation and advertising platform for virtual reality, has secured undisclosed funding from a clutch of angels, including People Group CEO Anupam Mittal, former head of operations at Airbnb Varsha Rao, former Google executive Surojit Chatterjee and chairman of HHC Holdings Nirav Choksi.

San Francisco-and Bengaluru-based Chymera will use these funds to ramp up product development in Bengaluru and expand publisher-base and, primarily advertiser-base in the US.

The company provides technology solutions to advertisers who are keen to leverage VR as a storytelling and brand-building platform. VR developers integrate Chymera ads with their content to earn revenue for each ad served.

The startup claims to have generated 60% higher click-through rates (CTR) through VR-based ads as com pared to 2D mobile ads.

"Since we launched publicly, we have received an overwhelming response from the VR ecosystem," said CEO Smeet Bhatt.

"Our current focus is to onboard quality publishers and im prove on ad experience. Chymera has already partnered with 12 publishers in the US, UK and France." Chymera VR was founded in early 2015 by IIT Bombay alumni Sushil Kumar and Smeet Bhatt. The startup counts Samsung and Google Daydream among its customers.