In a surprise move, 3D visualization technology company Real5D has bagged a USD 1.2 mln Series A round of funding from US VC player DoubleRock. The investment itself is a surprising move considering that the technology has been around for some time, but Real5D seems to have filled a niche that has long been wanting – interactive visual applications for the real estate sector. But what really had heads in the VC circuit spinning is the fact that the funding round was closed less than 10 days after the target company won the competition at the Life 3.0 event organized by Funders and Founders; its new investor – DoubleRock’s Suraj Kumar Rajwani – made sure that the funds were available in the company’s account mere days after the event. The funding shows that major gaps exist in the real estate marketing and sales domains, and Real5D helps to fill these gaps by providing customers the option to ‘walk through’ properties that they are interested in purchasing.
Real5D was founded in 2007 by Balazs Farago of Hungary. Their core offering is a 3D interactive modelling software that can be used to create virtual environments that users can explore, a feature that is extremely useful when selling real estate. Generally, real estate deals are made before the construction has even begun, but until now there has been no comprehensive software to create virtual versions of buildings and properties that potential buyers could use. The new software can be downloaded and installed on any PC that supports the requirements and only takes about 30 seconds to install. An additional feature, called the ‘client maker machine’ keeps track of properties and alerts the seller or agent if any potential buyer visits the location, thereby giving real-time marketing benefits to the realtor.