Taiwanese Company Bags $5m For Its Property Virtual Tours
Exciting news has reached us this week of another company, based in Taiwan, who specialise in virtual reality for real estate. This company is called iStaging, and they just closed a round of pre-A funding to the tune of $5 million in new capital!
This comes just months after the company was awarded the $100,000 first prize at the APEC Global Challenge in Taiwan, from the event’s sponsor, Intel.
Property Virtual Tours… just like ours!
Using iStaging’s LiveTour™ Creator web platform, agents and property marketers can create life-like VR tours of their listed properties, which can then be shared on social media or added to multiple listings services, or even embedded in a web page. They can also use the VR Cam™ app to capture listings in 360° from a smartphone, which then convert to VR, with automated panorama stitching easy picture retrieval from Ricoh Theta S, Panono and others.
Property developers, too, can create property virtual tours of their projects before they’re built, transforming paper floor plans into immersive virtual tours.
Well, that’s all great, but they’re not alone in championing virtual reality and CGI architecture. After all, VMI Studio is already working with real estate agents and property developers with our extremely sophisticated architectural CGI and VR platforms.
What’s good for iStaging is its unique placement within Taiwan, which will give it wide access to the growing demands of consumers in the Chinese market, who are poised to invest in foreign real estate. Market reports reveal that Chinese investors have recently poured over $300 billion in investments into the US property market alone.
With VR and AR technology on the rise, the ability for these investors to check the properties they want to acquire from thousands of miles away, could have a staggering impact on catapulting this substantial figure even further skywards.
Beyond geographical considerations, however, iStaging’s added twist on the usual VR PropTech offering, particularly for the domestic market, may just give them a very good USP to work with…
Combining Property Virtual Tours with Interior Design
Beyond teaming with property professionals, iStaging has thought outside the box and is reaching out to both interior designers and furniture makers, to take their tech one step further.
Interior designers can work with their clients to visualise their interior design ideas within the iStaging VR platform in a very real way. That immersive element to home design will be a biggie for homeowners and design professionals alike in coming years, as VR cements itself at the centre of our digital lives.
VMI Studio, of course, are already on top of this, using CGI design as a tool for interior design here in the UK, right now.
Of course, real estate agents teaming up with interior designers could be an innovative route to boosting business for both parties. Prospective buyers can actually visualise their new home fully furnished precisely to their tastes, even without having ever seen the property ‘in the flesh’.
Furniture makers, too, can allow their clients to try out their creations virtually at home, thus extending the reach of the artisan beyond the showroom. This will, of course, be popular with big furnishing brands, and high end bespoke furniture designers, but it could also be a democratising force that gives welcome exposure to smaller crafters.
The emergent success of companies like iStaging prove the extent to which virtual reality, and particularly in real estate, is taking off. It’s clear that VR and CGI architecture is set to be a leading force in the property sector in coming years, and we wish iStaging all the best with their endeavours.