Urbanbase announced that it received an undisclosed amount of funding from SL Investments, Shinhan Capital, and KDB Capital.
With machine learning-based plan analysis and automatic modelling technology, Urbanbase offers 3D and VR floor plans of apartments in Korea. It has also developed a platform where people can design homes using VR.
The company also provides virtual space data API to real estate platforms like Hogangnono, a service that shares real estate-related data in real time. Consumers have responded well to Urbanbase, as users hip is rapidly increasing.
Urbanbase raised USD 2.1 million in series A funding this past April from CKD Venture Capital, Magellan Technology Investment, and Capstone Partners. It also received seed funding from Sparklabs Global, Capstone Partners, and TIPS in the past.
After receiving the April funding, Urbanbase has expanded its services to include not only real estate and home design, but also the design of large furniture, home appliances, and interior decorations. One leading interior design company in South Korea is currently preparing to launch an Urbanbase sales tool. Additionally, to expand its existing 3D and VR services, the company is working on its app development and recently launched expanded 3D and VR services in beta.
Urbanbase will use the new funding to produce virtual space data for transportation hubs and entertainment venus like stadiums and concert halls. User accessibility and the efficient use of space will be prioritized in the new designs. AR technology and related capabilities will also be strengthened.
Jin-Woo Ha, CEO of Urbanbase, stated: “Such a significant amount of space data has been accumulated, and we will expand our AR and VR business to new markets by using various space data.”
Minju Ahn, managing director of SL Investment, said: “Industries related to 3D space data are very important since AR and VR markets are growing. More businesses desire to utilize 3D space data, especially those in the home appliances and furniture businesses, so the business model likely can be scaled-up.”
(Top photo from Urbanbase.)
This article, entitled “3D Modelling platform Urbanbase raises funding from SL Investments & others”, was written in Korean by Platum, edited by AllTechAsia.