Virtual reality proptech EnvisionVR raises $2.58 million

Virtual reality property walkthrough startup EnvisionVR has raised $2.585 million in a round backed by industry leaders.

EnvisionVR, founded in 2019, is a mobile platform that uses virtual and augmented reality experiences for the off-the-plan property developments.

In the last 18 months, more than $500 million worth of property has been showcased and sold by sales agents using EnvisionVR’s platform.

EnvisionVR founder and CEO Michael Shaw

Founder and CEO Michael Shaw said an estimated $2.2 billion is wasted in holding costs for off-the-plan developments in Australia and the engagement with EnvisionVR so far demonstrates clear demand for their solution.

“We wanted to deliver the highest quality AR/VR experience and now anyone can visualise their future home using a mobile phone, tablet, VR headset or the web,” he said.

“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.”

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.

The proptech has sales teams in Australia and the UK and will use the funds for its continued international expansion and scale its network of global CGI partners.

“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,” Shaw said.

“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.”

EnvisionVR’s technology has been enlisted homebuilders, project marketing agencies, and developers.

Davina Polleto from Ray White Projects is one of them.

“Surpassing 360-degree tour technology and 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,” she said.