SmartVizX, Noida-based Virtual Reality (VR) startup has raised ₹10 crores ($1.45 million) in pre-series A funding led by YourNest Venture Capital and Indian Angel Network‘s IAN fund. The funds raised will be used by the company to scale up the product team building additional capabilities to the product, along with international expansion.
It has also announced the launch of Trezi, India’s first VR -based platform architecture and interior design collaboration. This is a significant development in the Indian VR industry.
SmartVizX is a virtual reality solutions startup that uses VR to enable design visualization, interaction, communication and collaboration in an intuitive and immersive environment. It was founded by the husband-wife duo of Gautam Tewari and Tithi Tewari in 2015.
Tithi Tewari, Founder and Managing Director, SmartVizX, said, “SmartVizX is the first Indian company to offer a VR platform which will revolutionize the architecture-engineering-construction (AEC) industry. Once a 3D model is passed through Trezi, it is created in a virtual environment which can then be accessed through a VR headset,”.
Trezi is set to improve the understanding, communication and translation aspect of interior design by letting the customers and suppliers experience the project’s design at full scale using its visualization and spatial awareness. It will reduce the costs involved due to wastage of time and resource.
Trezi is the latest product by SmartVizX but they also provide various other products for its customers like ArchViz, ArchVizM 360-Viz, ViViz, etc. These products help create a simulated environment for different properties and architectures to enhance the customer experience.
Virtual Reality, along with other immersive technology platforms like Augmented Reality and Mixed Reality is poised to be the next big thing in the technology domain. The global market for these platforms is poised to grow from current ₹1,37,000 crores ($20 billion) to ₹10,32,000 crores ($150 billion) by 2020.
This is a growing industry in India with wide-ranging applications across sectors like gaming, education, healthcare, defense, online shopping, architecture, etc. There are already a few big players in the Indian market including Imaginate, Foyr, Absentia VR, and Whodat among many others.