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- Real-time software company Vection Technologies (VR1) has signed its first Australian real estate VR solution via its AEC & Real Estate Division
- Following the recent acquisition of architectural visualisation studio Blank Canvas, Vection has secured $300,000 in 3D rendering, visualisation and virtual reality (VR) solutions
- This acquisition allows Vection to leverage Blank Canvas’ technology and experience to expand its 3D, VR and augmented reality (AR) offerings into the real estate, architecture, engineering and construction sectors
- Work will begin immediately and is scheduled to be completed within three months
- Vection is up 10.7 per cent on the market and shares are trading at 6.2 cents
Vection Technologies (VR1) has signed its first Australian real estate virtual reality (VR) solution via its AEC & Real Estate Division.
Following the recent acquisition of architectural visualisation studio Blank Canvas, Vection has secured $300,000 in 3D rendering, visualisation and VR solutions.
This acquisition allows Vection to leverage Blank Canvas’ technology and experience to expand its 3D, VR and augmented reality (AR) offerings in various industries.
Vection hopes to attract more mid-market customers in the real estate, architecture, and engineering and construction sectors.
“As the Australian market rebounds from COVID-19 we’ve seen a significant uplift in activity in the off the plan sector, with developers bringing new projects to market to capitalise on increased consumer demand,” Blank Canvas CEO Paul Clayton said.
“Of course, this brings added competition, and as a result, we’re seeing tremendous interest in VR as a means of product differentiation,” he added.
This contract allows Vection to use its 3D, VR and AR product offerings within the real estate, architecture, engineering and construction sectors.
Work will begin immediately and is scheduled to be completed within three months.
“We are very excited about the prospects of the AEC and Real Estate vertical division, already successfully bringing to market a comprehensive technology portfolio,” Vection Managing Director Gianmarco Biagi commented.
“We continue to confidently deliver on our global strategy of bringing to market digital transformation across diverse verticals, supported by a strong global management team,” he added.
Vection is up 10.7 per cent on the market and shares are trading at 6.2 cents at 11:39 am AEST.
