Banuba Limited

Banuba Limited specializes in augmented reality (AR) technology, providing innovative software development kits (SDKs) designed to enhance user engagement in multiple sectors including beauty and eCommerce. Founded in 2016 in Minsk, Belarus, Banuba Limited focuses on augmented reality solutions. The company has engaged in 2 deals, with the most recent funding round occurring on November 26, 2018. This round raised USD 7.

00 mn led by Larnabel Ventures, with participation from VP Capital. The total amount raised by the company stands at USD 7. 00 mn, with a current valuation of USD 12. 00 mn.

The CEO and founder, Dmitry Ogievich, has a background in technology ventures, leading Banuba's development and strategic direction. Banuba specializes in augmented reality (AR) technology, offering a suite of software development kits (SDKs) designed to enhance applications in various industries such as beauty, eyewear, and jewelry. Their core products include the Face AR SDK and Video Editor SDK, which provide features like facial recognition, virtual try-ons, and video editing capabilities integrated with AR effects. These products enable brands to deliver immersive experiences to their customers, allowing for realistic virtual try-ons of makeup, eyewear, and accessories, thereby improving user engagement and conversion rates.

Banuba's customer base spans a wide range of sectors, including eCommerce platforms, social media applications, and video conferencing tools, serving users globally, with notable traction in markets like Japan, Brazil, and India. Banuba's revenue model primarily consists of subscription-based pricing for its SDKs, which are tailored per month per platform. Clients, including major brands and application developers, engage in partnerships to integrate Banuba's technology into their offerings, facilitating business transactions that enhance user experiences and drive sales. For instance, retail partners utilize the Face AR SDK to enable virtual try-ons, enhancing customer decision-making and satisfaction in eCommerce.

This model supports a variety of applications, from direct-to-consumer sales to B2B collaborations, further diversifying the revenue streams associated with flagship products like the AR SDK and Video Editor SDK. As a result, the company capitalizes on the growing demand for AR technology across multiple sectors, positioning itself as a leader in the market. Banuba plans to leverage the recent funding of USD 7. 00 mn from November 2018 to expand its product offerings and market reach.

They are developing new features for their current SDKs to enhance user experience further. The company intends to penetrate new geographic markets, particularly targeting growth in regions such as North America and Europe by 2023. This strategy aims to capitalize on the rising demand for AR solutions and to foster partnerships with additional brands in those regions.