When you are looking for a new home, how wonderful it will be to be able to check places from the comfort of your home or office? It is perfectly possible to do this today, thanks to augmented reality and 3D visualization. NewsCorp-backed real estate platform PropTiger wants buyers on its platform to have this facility. So, it has acquired augmented and virtual reality startup called 3DPhy to integrate this feature with its platform.
According to PropTiger’s statement, it wants to enable its developers with visual marketing solutions through this acquisition. The companies have not disclosed the financial details of the deal.
Gurgaon-based 3DPhy provides the facility of showing real estate properties through mobiles, laptops, or head mounted devices. The feature is incredibly beneficial to both builders and brokers.
Commenting on the acquisition, Dhruv Agarwala, chief executive officer, PropTiger said,
With mobile devices overtaking desktops, the real estate sector has become one of the prime sectors where people want to have the ability to search anywhere and anytime, and that is a big priority for us.
Through the integration of 3DPhy, PropTiger will further strengthen its tech platform and offer a deeply immersive search experience to users. People searching for properties on its platform can enjoy 360-degree panorama and virtual tours of their prospective homes.
They can not only check out the surroundings but also have a virtual walk inside and see exact sizes, dimensions, shapes and spaces.
A group of IIT Kharagpur alumni had founded 3DPhy. The startup has a team of 12 people who will join PropTiger post acquisition. Talking about the association, Co-founder and CEO of 3DPhy, Amit Shekhar, said,
We are excited to partner with PropTiger. Together, we will offer a comprehensive technological solution to meet the changing needs of our customers. We are delighted that PropTiger believes in our technology and strategic vision; this will enable us to bring even greater value to customers.
This is the third major acquisition of PropTiger. Last year it had acquired its rival Makaan.com and had also bought an interactive technology company called OoBi.
Launched in 2011, PropTiger has sold homes worth over 10,000 crores to more than 15,000 customers. Accel Partners, SAIF Partners, Horizon Ventures and the global media conglomerate NewsCorp are some of its major investors. NewsCorp holds 30% stake in the company.
This, however, isn’t the first time a real-estate startup is using AR or VR to provide an immersive experience to buyers. Commonfloor has been using the menial Google Cardboard and a phone app to give you a virtual tour of the property. Indiaproperty.com, a real estate listing portal run by Chennai-based India Property Online Pvt Ltd, had previously launched an augmented reality-based mobile app called 3D Pano X.