Enviz reaches $1.5 m funding target, rebrands

Australian proptech start-up, Enviz has managed to reach its funding target of $1.5 million while amid a company rebrand.

Michael Shaw, CEO of Enviz

The company uses augmented reality (AR) and virtual reality (VR) technology to create digital property experiences for agents, developers or potential buyers to explore the property.

Under the rebrand, the proptech business has switched its name to Enviz from EnvisionVR as a homage to the original name while also incorporating the Architectural Visualization (Arch Viz) industry.

Its recent $1.5 million capital raise was led by Michael Holm and Henry Holm from Balmain Private with an open-to-close period of two months.

Digital Nation understands the new flush of funding will be put towards the new brand, the automation of products plus the growing global reach of the partner network.

Michael Shaw, CEO of Enviz said, “This is not just a simple name and branding change”.

“Many would focus on the ‘VR’ part of our previous name and think we were only a virtual reality company.

“Even though the VR experience is by far our most immersive experience, it is only a small part of our solution,” Shaw said.  

Shaw said despite the company's rebrand the direction of the Enviz remains the same however.

“Part of our mission is to give people certainty in their future space.

“Through automation, we have been focusing on reducing the barriers of using the platform and we now feel confident in the spread and uptake of our product,” Shaw said.