[Funding alert] Rockstud Capital invests in VR Startup SmartVizX
SmartVizX, creator of India’s first Virtual Reality-based product Trezi, has received fresh funding from new and exisitng investors.
The new round was led by Rockstud Capital Investment Fund and saw participation from existing investors IAN Fund and YourNest Venture Capital.
This Series A funding follows the startup’s pre-seed round of $1.3 million in 2018.
SmartVizX will use the fresh funds for shaping Trezi into the “world’s first immersive platform for the building industry”, which will connect architects, designers, product manufacturers, and even app developers creating applications for the building industry.
The VR startup was founded in February 2015 by Tithi and Gautam Tewari, who have a combined domain experience of over 40 years between them.
Gautam holds a master’s degree in construction management from UNSW Australia and is a LEED-accredited professional. Tithi holds a bachelor’s of architecture degree from CEPT Ahmedabad, and has completed programmes in Leadership Excellence through Achievement and Practice (LEAP) from INSEAD and MPSFI (Managing Professional Service Firms in India) from Harvard Business School.
They developed India’s first VR-based design communication and collaboration product Trezi. The fully immersive VR product enables users step into the virtual world and review, modify, and experience a project design with their clients and colleagues.
Abhishek Agarwal, Managing Partner of Rockstud Capital, said:
“Gautam, Tithi, and the team have built a globally competitive VR product. Building such a product requires significant domain and technical expertise. They have already sold licences to reputed corporates; that shows the validation. The company is now well positioned to scale the product across international markets.”
As a SaaS product, Trezi has found traction with customers not just in India, but recently also in overseas markets such as the US, Japan, Singapore, and Thailand.
The product’s ability to address design communication issues and get all project stakeholders on to a common platform makes it unique and enables clients to save both time and money.
So far, Rockstud Capital has invested in Everest Fleet, a Mumbai-based fleet management service provider to Uber and Ola, and Cubical Labs, a Delhi-based IoT home automation solution provider.
(Edited by Teja Lele Desai)