Integrated real estate platform Square Yards has announced the acquisition of PropVR, an AI based platform specializing in creating immersive digital property experiences using 3D technologies, virtual reality, and augmented reality, the company said.
The platform helps property developers, real estate agents, architects, and interior designers to virtually showcase the properties to their clients using immersive 3D walkthroughs and inbuilt video conferencing solution.
This is Square Yards’ third acquisition in recent times. Last year, it acquired Azuro, one of the largest Rentals and Property Management platforms in India followed by acquisition of PropsAMC, a leader in Data intelligence, Asset management and Real Estate Services.
Founded by Srinath Kandala and Sunder Jagannathan, PropVR’s AI-based platform can convert any floor plan or physical space into an interactive 3D walkthrough in minutes (as against rather weeks being the standard norm) and can cut the real estate marketing spends by 80% while increasing the customer engagement levels by up to 400%, the company said.
PropVR’s proprietary technology has won numerous awards for its innovation in visualization technology and services in the proptech space.
“With PropVR, we are not only looking to redefine the digital real estate experiences for our customers, agents and property developers but in the long term, we want to digitize and index the built world by creating the digital twins of every single organized property in India,” said Tanuj Shori, founder and CEO of Square Yards.
The company also plans to launch new 3D experiences on its portal squareyards.com where users can search, explore and navigate the entire real estate landscape of a city in a 3D environment. It plans to showcase real time inventory availability and enable end to end transactions on this platform going forward.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
