Virtual Reality Startup SmartVizX Raises $500K From Indian Angel Network And Others

Company Name : SmartVizX
Funding Amount : Rs 5 lakhs
Investor(s) Indian Angel Network, Stanford Angels, Entrepreneurs India.
Funding Round : Not Disclosed

SmartVizX, a virtual reality (VR) solutions startup has raised over $500K  from the Indian Angel Network (IAN) and Stanford Angels and Entrepreneurs India (SA&E India).

SmartvizX was founded in February 2015 by Gautam Tewari and Tithi Tewari. The company builds unique ‘Immersive Technology’ solutions using VR for the real estate and other industries, breaking away from the current static and passive content being used by businesses.

The round was led by Saurabh Srivastava, considered as one of the architects of the IT Industry and entrepreneurial eco-system in India and co-founder of IAN, Mohit Goyal, Founding Member, IAN, and Ajay Lavakare, Member, IAN and Co-President of Stanford Angels & Entrepreneurs India.

“We are thrilled by the kind of response we have received and the investors who we have on board. Not only have they helped us in assessing the opportunities in front of us but most importantly they bring an extensive amount of experience which will help us in realizing the true potential of our capabilities. Our vision is to enable VR supported processes and decision making in business. We are further motivated by the fast adoption of this immersive technology by established brands which helps them engage better with their target audiences and consumers,” said Gautam Tewari, Founding Director, SmartVizX.

The funding will be used to expand R&D and to launch a new Bangalore center within the first few months. The funds will also be used to grow the team, including hiring a new R&D head and a Chief Technology Officer.

The key focus areas for the company over the next 6 months will remain the real estate and AEC industries but it will also explore new avenues such as listing portals, e-commerce, and the furniture industry to enable better visualization of products & services and enable informed decision-making. SmartVizX also plans to build further virtualization tools in addition to testing new methods of engagement through this immersive technology.