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An Australian start-up is set to go global after a $2.5 million funding raise.
EnvisionVR, a mobile virtual reality platform that allows users to visualise their future off-the-plan homes, is preparing to expand to international markets following a successful funding round.
In total, EnvisionVR secured $2.585 million from investors across the property sector.
EnvisionVR was first founded in 2019, and set itself the ambitious task of revolutionising virtual reality experiences for the off-the-plan real estate industry. It currently has sales teams in Australia and the UK, and CGI teams have reportedly already begun selling to international clients.
Michael Shaw, EnvisionVR’s founder and CEO, said: “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.”
He explained that “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”.
Davina Poletto from Ray White Projects was one of EnvisionVR’s clients, and she explained that integrating virtual reality into marketing campaigns offers significant sales advantages.
“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,” Ms Poletto said.
For those seeking to incorporate VR into their off-the-plan sales but don’t have the capacity to create them in-house, EnvisionVR touts itself as a cost-effective solution.
Mr Shaw revealed: “Our 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.”
EnvisionVR has reportedly been particularly popular with developers, home builders and marketing agencies. According to the proptech firm, the platform has showcased and sold over $500 million worth of property over the last 18 months, and helped its clients achieve faster sales.
With the new funding round finalised, Mr Shaw expressed that the proptech is “excited to continue to grow our team”.
In July last year, virtual reality came to NSW when Montgomery Homes partnered up with EnvisionVR to showcase unbuilt properties to prospective buyers.
With the help of the VR technology, users could walk through the property in an unobstructed space, without the dangers of tripping over cords and cables.
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