Launched in an avid desire to transform the shopping experience in the world of e-commerce, Imajin, an e-commerce company, eyeing harnessing 3D and AR technologies soon, has been a new addition of Baltic Tech Ventures (BTV), a Baltic venture capital market player focusing on early-stage pre-series A startups. Mr. Orkhan Mammadov sat down with The Baltic Times Magazine to speak about the company and the partnership with BTV.
Why did you decide to launch your own business?
It all began during our time working together at a digital agency, where Emin Valiyev, the co-founder, and I witnessed first-hand the challenges faced by businesses in creating immersive and engaging online shopping experiences. We noticed a common thread: limited product visualization and low conversion rates. It was frustrating to see potential customers leave without making a purchase simply because they couldn't truly experience the product.
Driven by our passion for innovation and technology, we embarked on a mission to bridge this gap. We envisioned a platform that would revolutionize the way people shop online by bringing 3D and AR technologies to the forefront. We wanted to empower businesses to showcase their products in a way that would captivate customers and boost conversion rates.
Imajin is not just a business venture for us; it's a manifestation of our shared vision to make online shopping more immersive, interactive, and enjoyable. We are proud of developing a platform that empowers businesses to showcase their products in stunning 3D and AR, revolutionizing the way customers engage with brands.
Can you speak of your journey so far?
Our journey with Imajin has been an exhilarating and transformative one, and it continues to unfold as we write the next chapters of our story. From the early days of conceptualization to the development of our platform, we have navigated a path filled with excitement, challenges, and growth.
Since our inception, we have made significant strides in turning our vision into reality. We wasted no time and swiftly brought our ideas to life, culminating in the launch of our first working prototype in March 2022.
We secured our first customer in May 2022, marking a pivotal moment that confirmed the market demand for our innovative solutions. In summer that year we won first place at the end of the ABB Incubation Program, which powered our confidence to pursue our entrepreneurial ambitions. As time passed, we experienced remarkable growth, in terms of team building, product development and business expansion. Our dedication and hard work paid off as we secured our first investment of $25,000 in the late summer of 2022, allowing us to further fuel our growth trajectory. Since then we have been working on the developing and improving the only SaaS platform combining 3D content production and diverse AR experiences, which is simple to use and designed carefully for different types of e-commerce businesses. Additionally, an important milestone in our journey was being accepted into the Nvidia Inception Program and the Microsoft for Startups Program. These partnerships have provided us with invaluable resources, technical support, and access to cutting-edge technologies that have accelerated our product development and enhanced our capabilities.
But our journey doesn't end there. In fact, it's just the beginning. We have assembled a strong and talented team who share our vision and are instrumental in propelling Imajin to new heights. Together we are working tirelessly to enhance our SaaS platform, adding key features, constantly iterating and improving, to ensure that Imajin will be at the forefront of innovation in the e-commerce industry.
Our journey with Imajin is a testament to our resilience, adaptability, and unwavering belief in the potential of our idea. The road ahead may be challenging, but we are fueled by our passion, the positive impact we have already made and the endless possibilities that lie ahead. The journey is still continuing, and we are excited to see what the future holds for Imajin.
What do you find interesting about Baltic Tech Ventures, of what value is this partnership to you?
We find Baltic Ventures to be an incredibly valuable partner, and what sets them apart is their holistic approach to supporting startups. Beyond the financial support they provide, the BTV team has shown a genuine commitment to our success by offering deliberate focus and hands-on mentoring. Their deep industry expertise and vast network have been instrumental in guiding us through various challenges and identifying new growth opportunities. We truly appreciate the dedicated time and resources that the BTV team has invested in us, as it demonstrates their belief in our vision and their genuine desire to see us thrive. The partnership with Baltic Ventures brings valuable expertise, network connections, and access to potential investors, which can significantly accelerate our growth and help us expand into new markets. With their support, we feel empowered to navigate the entrepreneurial journey with confidence, knowing that we have a strong partner by our side. We are grateful for the partnership with Baltic Ventures and look forward to achieving remarkable milestones together.
What are you short-term and long-term goals working with BTV?
Working with Baltic Ventures opens up exciting opportunities for us, especially in expanding our presence in the European market. Their extensive expertise and deep understanding of the regional landscape provide us with valuable insights and guidance as we navigate new territories. In the short term, our goal is to leverage their network and resources to solidify our position in key European markets, establishing strategic partnerships with leading e-commerce players and gaining a strong foothold in the region. We aim to achieve significant market penetration and increase our customer base, driving revenue growth and establishing ourselves as a trusted solution provider.
Looking ahead to the long term, our vision aligns closely with Baltic Ventures' commitment to supporting breakthrough technologies and companies with scalable business models. With their guidance, we aim to become a market leader not only in Europe but also on a global scale. Our long-term goal is to become the go-to solution for e-commerce businesses worldwide, revolutionizing the online shopping experience and driving industry-wide adoption of 3D and AR technologies.
We are excited about the partnership with Baltic Ventures as it aligns perfectly with our growth aspirations and provides us with the resources and support necessary to achieve our goals. We are confident that together we can make a significant impact in the e-commerce industry, driving innovation, and shaping the future of online shopping.
How do you describe yourself and your team as people and as businessmen?
As individuals, we are driven, innovative, and resilient. We thrive on challenges and are committed to delivering exceptional solutions to our customers. As businessmen, we are strategic thinkers with a deep understanding of the market and a passion for continuous improvement. We value integrity, collaboration, and customer-centricity, and we strive to build long-lasting relationships based on trust and mutual success.
We are a diverse group of genuine problem solvers and independent thinkers, each bringing a distinct set of skills and expertise to the table. From chaotic brainstorming sessions to the meticulous design process, our team thrives on collaboration and embraces the challenge of finding innovative solutions.
Ultimately, it is the collective effort of our team, their diverse perspectives, and their ability to work cohesively that drives our success. We foster a culture of continuous learning and growth, encouraging each team member to take ownership of their respective roles while also collaborating cross-functionally to achieve our shared objectives. Together, we are united in our dedication to revolutionize the e-commerce industry and make a lasting impact with our innovative solutions.
How do you envision the future for your venture in 5 or 10 years?
In envisioning the future of our venture in 5 or 10 years, we are incredibly excited about the potential of the Immersive Internet and the transformative impact it will have on the way we interact with digital content. Imajin aims to be at the forefront of this revolution, driving innovation and shaping the landscape of immersive experiences.
We envision a future where 3D and AR technologies are seamlessly integrated into our everyday lives, revolutionizing not only e-commerce but also various industries such as real estate, education, entertainment, and more. Imajin will play a pivotal role in this transformation, providing the essential tools and platforms that enable businesses and individuals to create, experience, and share immersive content effortlessly.
By doing so, we empower businesses with the necessary infrastructure to unlock the full potential of immersive experiences, driving engagement, boosting sales, and enhancing customer satisfaction.
As we look ahead, we see Imajin as a major technology and infrastructure provider, powering the Immersive Internet ecosystem and serving as a trusted partner for businesses seeking to harness the power of 3D and AR. Through strategic partnerships, continuous innovation, and a customer-centric approach, we aim to solidify our position as a global leader in immersive technologies, making a lasting impact on how we perceive and engage with digital content.
In summary, the future for Imajin is one of immense growth, with our technology and infrastructure playing a pivotal role in shaping the immersive experiences of tomorrow. We are committed to pushing the boundaries of what is possible, driving the adoption of 3D and AR technologies, and positioning ourselves as the go-to solution provider in this rapidly evolving industry.