Square Yards has recently announced that it has acquired PropVR, a 3D visualisation platform based on artificial intelligence.
According to ET, “Both the founders of PropVR will join Square Yards in senior leadership roles, as part of the all-stock deal. PropVR’s existing investors, including realty developer Brigade Group’s Real Estate Accelerator Programme (REAP), have also become co-investors in Square Yards as per the terms of this acquisition.”
“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,” commented founder and chief executive officer at Square Yards – Tanuj Shori.
Square Yards is an integrated platform for Real Estate & Mortgages and claims to be one of the fastest growing Proptech platform in UAE, Rest of Middle East, Australia & Canada. Square Yards platform offers an integrated consumer experience & covers the real-estate journey from search & discovery, transactions, home loans, rentals, property management and post-sales service – fully integrating buyers to an extensive network of 500+ partner real estate developers, 150,000+ Agents and 100+ banks & NBFCs.
Square Yards informs that it ranks in the top 20 consumer tech start-ups in India in terms of GTV (~USD1bn), top 50 in terms of revenue (~USD50mn) and is amongst the handful of consumer tech start ups in India which are profitable. It has direct presence in 25+ cities globally and has more than 3000 employees across 9 Countries.
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.