iStaging – VR Real Estate Company Seals $5M To Fuel International Expansion


Taiwan-based virtual and augmented reality company iStaging has sealed a $5 million USD pre-A funding round led by WI Harper with participation from Taya Venture Capital, one of a consortium of venture capital firms working with the Taiwan National Development Fund.

The company is a promising addition to a number of startups that cater to real estate agents and furniture makers by using virtual reality to let prospective buyers spatially experience living spaces remotely.

Releasing their debut app in January, iStaging is certainly not the first company to pioneer the use of VR in real estate, thought their position in Taiwan gives them access to a growing number of Chinese citizens seeking to invest in foreign real estate.

iStaging will leverage the latest funding round to fuel an expansion into western markets, building on operations in France and the U.S.

“Real estate agents have everything they need to capture, create, and allow their clients to visualize hundreds of properties virtually before selecting the ones to visit in person,” said Kevin Basset, iStaging’s Head of Marketing, on the capabilities of iStaging’s technology.

“It’s something we’re excited to promote in the U.S., Europe and China.”

Chinese investors have spent $300 billion on property in the U.S. market alone, according to a report from Rosen Consulting Group and the Asia Society released in May. Virtual and augmented reality services like iStaging could play a large role in streamlining future international property sales, allowing buyers to view and furnish properties remotely.

Other startups tapping the Chinese VR real estate market include Hong Kong-based VResidence, which oversees a number of virtual reality services, including a platform specifically for ‘second hand’ apartments in China.

from TechNode

Magicbricks – real estate portal


Properji provides users with information on a project, including price point analysis, builder review, location analysis, ROI, appreciation potential as well as risks

Magicbricks - real estate portal

magicbricks Gurgaon office

India-based real estate portal, which has operations in India and 14 other countries, has acquired, a Bangalore-based property listing site.

The transaction details remain undisclosed.

This would help magicbricks to strengthen its consumer proposition by offering in-depth information and analysis of projects that help consumers to choose the project that best suits their needs.

“Given our reach and scale, we would be taking this platform to six metros including Bangalore. We would like to prepare report for 10,000-15,000 projects, both completed and under-construction, having great demand,” Magic Bricks CEO Sudhir Pai told PTI news agency.

In photos: India’s magicbricks is building a fun office

Started in August 2013 by Priya Maheshwari, Guruprasad Bangle and Naveen Galithoti, Properji claims to be a pro-buyer portal that provides users with unbiased reports and reviews about builders and their projects. The startup gives them all the information on a project, including price point analysis, builder review, location analysis, ROI, appreciation potential as well as risks.

Properji tries to inject transparency into real estate transactions in India. The site displays ratings of builders and projects, and also assists users with basic legal review after agreement, civil & architectural review.

Started in 2006, magicbricks provides a platform for property buyers and sellers to locate properties of interest and source information on the real estate space. The company provides services in over 60 cities across India, in addition to 14 foreign countries, including the US, the UK, Dubai, Spain, Thailand, Thailand, Singapore, South Africa and New Zealand.

India’s online real estate space has been going through a tough time of late. A few months ago, SoftBank-backed Housing let go off 600 people. Classifieds company Quikr, which recently merged with CommonFloor, laid off 150-200 employees of the real estate portal a few days ago, according to various reports.

The post magicbricks buys property analysis startup Properji appeared first on e27.

from e27

Magicbricks – real estate portal