Proptech EnvisionVR raises $2.5 million to propel global expansion
Pioneering proptech startup EnvisionVR has secured $2.585 million in a recent funding round from a mix of investors from within the property sector. All investors are excited by the network growth potential of the business.
Founded in 2019, EnvisionVR’s revolutionary mobile platform has reimagined virtual reality experiences for the off-the-plan real estate industry. “We wanted to deliver the highest quality Augmented Reality (AR) /Virtual Reality (VR) experience and now anyone can visualise their future home using a mobile phone, tablet, VR headset or the web,” said EnvisionVR Founder and CEO Michael Shaw. “Whilst there are a number of solutions on the market, these are either tethered or have to be viewed on high-powered computers. EnvisionVR is bringing virtual experiences directly to people through their own devices.”
In the last 18 months alone, over $500 million worth of property has been showcased and sold on the EnvisionVR platform by sales agents. The company is delivering meaningful results to the industry and helping clients to achieve faster sales. Highlighting the demand for a solution that can streamline the sales cycle, it is estimated that $2.2 billion is wasted in holding costs for off-the-plan developments in Australia.
The platform’s diverse portfolio of projects serves as a testament to the expansive potential of immersive technology within the real estate domain. Notably, EnvisionVR has garnered participation from prominent homebuilders, project marketing agencies, and developers. “Surpassing 360-degree tour technology, EnvisionVR brings an off-plan project to life, making it a great tool to layer in with a robust marketing campaign to make buying off-the-plan that much easier,” said Ray White Projects’ Davina Polleto, who has engaged EnvisionVR deliver VR experiences for their projects.
Delivering on its mission to make virtual experiences as accessible and cost-effective as possible, EnvisionVR is empowering any 3D designer to offer these experiences to their clients rather than creating them in-house. “Our partner network of over 20 CGI studios across six different countries are already offering our VR experiences to their clients and we allow them to offer VR without any of the hassle,” said Shaw.
The recent round of funding and injection of capital marks a significant milestone for EnvisionVR, enabling the company to continue its international expansion and scale its network of CGI partners around the world. With sales teams already in Australia and the UK, and CGI studios actively selling to their global clients, this expansion is well on its way.
“We are excited to continue to grow our team and through our tech development empower any 3D designer to create powerful virtual experiences with the click of a button,” said Shaw.