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Virtual Reality startup SmartVizX raises Rs 100 mn pre-series A funding

BS Reporter/ 14 Jul 18 | 02:23 AM

SmartVizX, an Indian Virtual Reality (VR) startup, has secured Rs 100 million in pre-series A funding from Indian Angel Network’s IAN Fund and YourNest for its next phase of global expansion. SmartVizX also announced the launch of Trezi, India’s first VR-based platform for architecture and interior design collaboration. Trezi is set to bring about a big disruption in the building industry.

Virtual reality, along with other immersive technologies such as augmented reality and mixed reality (AR & MR) is poised as the next big computing platform, setting to dominate the technological landscape. The global market for such platforms is expected to rapidly grow from about US$20 billion today to over $150 billion by 2020, according to Digi-Capital, a consulting firm that covers the industry. Goldman Sachs estimates that the opportunity for Virtual Reality in the consumer real estate industry alone will be in excess of US$ 2.5 billion by 2025.

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“SmartVizX is the first Indian company to offer a VR platform which will revolutionize the architecture-engineering-construction (AEC) industry. Leveraging our deep understanding of the AEC Industry and VR, we have created an extremely customer-centric product which architects and designers can introduce into their workflow and create efficiencies while dealing with customers and building product suppliers. This fund-raise will enable us to scale-up and help Trezi foray into global markets," said Tithi Tewari, Co-founder and Managing Director of SmartVizX.

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