SC Ventures, Standard Chartered’s innovation, fintech investment and ventures arm, in partnership with KiyaAI, a digital solutions provider, is launching Akashaverse, an entertainment, social, e-commerce and lifestyle hub using immersive technologies and artificial intelligence.
Akashaverse will explore immersive and interactive digital environments and intends to transform how people experience and engage with events, e-commerce and religious tourism. Powered by Bharatmeta, KiyaAI’s immersive experiences platform, Akashaverse intends to break down traditional barriers.
Akashaverse plans to utilize virtual reality (VR), augmented reality (AR) and artificial intelligence (AI) technologies to transcend these barriers and make experiences more accessible and inclusive.
Akashaverse plans to offer users the ability to participate in virtual pilgrimages, visit virtual storefronts hosted by various brands for a reimagined e-commerce customer experience, and engage in bespoke events from anywhere in the world.
Through its commercial ecosystem, Akashaverse intends to provide its corporate clients with real-time insights on product engagement from its customers and also enable a new innovative distribution channel.
“Akashaverse intends to transform the way people connect and interact with spaces and services that were previously out of reach. Our hub is being designed to enhance engagement and interactions, and to enable users to immerse themselves in rich digital environments,” said Sanjeev Mehta, Founder and CEO, Akashaverse.
“KiyaAI’s immersive UI platform blends real and virtual worlds. It empowers businesses to adopt cutting-edge technology by enabling visualization, online transactions, and interact with GenAI-driven virtual assistants. By leveraging its capabilities to integrate with the India Stack, it ensures these solutions work seamlessly within India’s digital ecosystem. This collaboration with SC Ventures reflects our shared vision of leveraging cutting-edge technologies to empower communities and create impactful digital ecosystems,” said Rajesh Mirjankar, Co-founder, MD & CEO of KiyaAI.
“It is inevitable that the evolution of Web3 will impact the way we do business in the future— with the integration of online and immersive environments creating demand for new business models and, at a minimum, the ability to operate the infrastructure in such spaces. We think it is critical to build the muscles to serve customers in Web3 and, in that context, we are excited to see Akashaverse provide access to events, e-commerce and religious tourism,” said Alex Manson, CEO of SC Ventures.
Creating interactive shopping experiences that are integrated with Akashaverse’s event booking platform to offer users a unique opportunity to browse and purchase event-related merchandise, experiences and services. Unlike other platforms, Akashaverse plans to make its virtual stores accessible without specialized hardware.
Users will be able to access Akashaverse’s hub through VR or AR sets, with easy login options available. Even without VR sets, 360-degree images are expected to provide users with an immersive visual experience while browsing the digital products and services on Akashaverse. The hub is also expected to support virtual donations, via a third-party regulated payment institution, for pilgrimage sites and associated charitable organizations, fostering a bridge between financial institutions and society.
This is not SC Ventures’ first foray into the domain of immersive experiences. In 2022, SC Ventures purchased land in The Sandbox, a leading decentralized gaming virtual world, to create innovative experiences for clients and the community.
