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Sydney-based proptech EnvisionVR, a company that has developed a next-generation virtual reality experience for off-the-plan property buyers, has raised $2.585 million in a recent funding round from investors within the property sector.
The funds will be used by EnvisionVR to further its global expansion plans and scale its network of CGI partners around the world.
Founded in 2019 by Michael Shaw and David Esber, EnvisionVR currently has operations in the US, Canada and UK, as well as Australia.
The company says that in the past 18 months alone more than $500 million worth of property has been showcased and sold on the EnvisionVR platform by sales agents.
The technology provides virtual walk-throughs of apartment and home designs using a mobile phone tablet or VR headset, giving buyers an immersive view of the finished product.
Unlike existing property virtual reality experiences, EnvisionVR’s Virtual Property Experience, provides users with a life-sized scale of the design that allows them to move freely as though they were exploring a physical space.
The company has teamed up with a number of major developers including Sekisui House and Third.i Group, as well as homebuilders and design firms to implement its technology into their sales campaigns leading to what EnvisionVR says are ‘meaningful results’ for the industry and helping them achieve sales more quickly.
“We wanted to deliver the highest quality augmented reality/virtual reality experience and now anyone can visualise their future home using a mobile phone, tablet, VR headset or the web,” says Shaw, the EnvisionVR CEO.
“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.”
Ray White Projects employed the EnvisionVR technology for the relaunch of Moshav Financial’s AYA luxury apartment development at Bondi.
“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,” says Ray White Projects’ Davina Polleto, who has engaged EnvisionVR deliver VR experiences for projects the agency is marketing.
Shaw says EnvisionVR is increasing accessibility to its technology to more people by empowering 3D designers to offer the EnvisionVR experience to 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,” he says.
“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.”
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