Integrated real estate platform Square Yards lately announced the acquisition of PropVR, an AI-based platform that specialises in creating digital property experiences using 3D technologies, virtual reality, and augmented reality. This is the third acquisition from Square Yards in recent times.
The entire team of PropsAMC, including its co-founders, would join Square Yards but will operate with the same brand name. The company is also planning to launch new 3D experiences on its portal squareyards.com where users can search, explore and navigate the entire real estate landscape of a city in a 3D environment. PropVR's AI-based platform can convert any floor plan or physical space into an interactive 3D walk-through in minutes and can cut real estate marketing spends by 80% while increasing customer engagement levels by up to 400%.
"With PropVR, we are not only looking to redefine the digital real estate experiences for our customers, agents, and property developers but, in the long term, we want to digitise and index the built world by creating the digital twins of every single organised property in India," Tanuj Shori, Founder and CEO of Square Yards, said in a release.