Abhijit Patil, Co-Founder and COO, AjnaLens

18 Apr 2024 , 11:44 AM

Help us understand the business model of the company.

AjnaLens is the sole manufacturer of MR headsets from India. Our target customers for these headsets are developers, enterprises, Government and Defence. But AjnaLens’s business model focuses on the AjnaVidya ecosystem along with XR headset, an advanced platform that allows developers to create, publish, and monetize Extended Reality (XR) content. This ecosystem is a one-stop solution for anyone for skill in half of the time and cost without purchasing any resources for training. It is also equipped with state-of-the-art features like ray tracing and AI integration, which facilitate the creation of highly immersive and visually stunning experiences. By enabling direct content streaming to XR headsets, AjnaLens eliminates the need for end-users to possess high-performance computing hardware, broadening their market reach and making XR technology more accessible.

What are the key product segments and products/solutions offered by the company?

AjnaXR Pro and SE: These mixed-reality headsets are designed to be exceptionally lightweight, enhancing user comfort and usability in various applications, from gaming to professional training.

AjnaVidya: More than just a content platform, it serves as a comprehensive toolkit for XR developers, encompassing development tools, a content library, and monetization channels.

AjnaHPSC: Stands for High Performance Spatial Computing, a solution designed to handle the heavy computational load of streaming high-quality XR content without latency issues.

AjnaKriti: This innovative tool simplifies the creation of 3D models from traditional media formats, aiding content creators in enhancing their productivity and creative potential.

Ajna Defence Solutions: Our innovative defence solutions helps soldiers to plan their mission efficiently and accurately in XR, upgrading existing tanks and missiles and few more interesting applications.

What have been the key learnings and achievements of the company since its inception?

AjnaLens has effectively achieved product-market fit in the competitive XR industry, marked by several successful product launches. The company has garnered prestigious awards, including the “Best Innovation” at CES USA and the “Best Enterprise Solution” at AWE, USA, reflecting its innovative leadership and commitment to enterprise solutions.

Additionally, AjnaLens has earned numerous startup accolades and secured funding through grants.

On the intellectual property front, the company has applied for 32 patents, successfully securing 11, and protecting its pioneering XR technologies. Strategic partnerships with major tech firms have been key to AjnaLens’s global expansion, enhancing its technological capabilities and broadening its market presence. These efforts underline AjnaLens’s strategic positioning as a leader in the global XR market.

Which are the key regions that the company caters to?

AjnaLens’s global operations span significant markets apart from India including North America, Europe, and the MENA region. Operating globally allows AjnaLens to tap into varied markets, catering to differing needs and securing a diverse revenue stream. Their international focus also facilitates the sharing of ideas and innovations across different cultural and technological landscapes.

What are the macro opportunities available to the company?

The rising demand for virtual and augmented reality solutions opens numerous doors for AjnaLens, particularly in sectors like education, where immersive learning can provide significant benefits; corporate and manufacturing related trainings, where XR can simulate real- world conditions for better learning outcomes; and entertainment, where users seek increasingly immersive experiences.

Share with us the growth strategy of the company.

AjnaLens aims to continue its trajectory through technological innovation, particularly by advancing their core technologies in XR. Expansion of their developer ecosystem, AjnaVidya, is likely a key focus, aiming to increase both the quantity and quality of available XR content, so that all of our developers will get good business from our existing and potential enterprise, government and consumer customers. Strategic partnerships with other tech giants could provide necessary infrastructure, distribution, and development synergies.

What are the key risks facing the company and how is the company managing them?

We face increasing competition from giants like Apple, Meta and Pico. AjnaLens leverages advanced streaming algorithms and compression technologies to maintain a competitive edge. These technologies help mitigate the physical limitations of hardware through software solutions, ensuring a seamless user experience. Our make-in-India hardware will reduce the cost of XR hardware further in the future. World’s first one-stop solution of all XR learning, training, skilling content with generative AI technology will mitigate the risk further.

Are there any plans to get listed on the bourses? If yes, share an indicative timeline for the same.

AjnaLens’s plan to list on stock exchanges within five years highlights their ambition for growth and scale. This step would likely aim to enhance their capital base, enabling further investment into R&D and global expansion efforts.