Italy’s virtual reality startup inVRsion secures € 3 million to drive 3D digitization

Italy’s virtual reality startup inVRsion secures € 3 million to drive 3D digitization

Published: 13-05-2020 16:33:00 | By: Bob Koigi | hits: 4774 | Tags:

Milan-based virtual reality startup inversion has successfully closed its third oversubscribed fund raising for a total amount of €3 million euros. This brings total equity raised to €4.5 million euros since it was established in 2015.

The startup specializes in the simulation of retail spaces, showrooms, products and shopping experiences, aimed at supporting B2B activities like trade marketing negotiations, shoppers researches, training, as well as B2C ones, like virtual reality e-commerce. inVRsion’s proprietary software ShelfZone® is used in the CPG sector by leading companies at a global level.

Matteo Esposito, Co-founder and CEO, inversion: “Since the start inVRsion has specialized in the standardization of the processes related to 3D products digitalization and in the development of a software for the design and personalization of retail spaces through virtual reality that can be dynamically filled with products, autonomously managed by clients and connected to their existing sales processes. Soon our platform will take advantage of the emerging Edge Cloud and 5G technologies to bring the virtual purchase experience from a B2B to a B2C context, reinventing the e-commerce paradigm. I want to thank our investors who believe in this ambitious, but timely project”.

inVRsion is also an active member of the Khronos Group, an American association creating advanced, royalty-free standards, that is working to release a new 3D Commerce standard format.

To assist during the Covid-19 emergency, the company has announced new solutions in the Fashion and Luxury sectors to virtualize and improve the efficiency of distribution and sales processes at a B2B level.

Fabrizio Dini, COO, inVRsion: “Our 3D digital twins are perfect and can be showcased in a virtual store or showroom through our platform or featured within a web page, providing users with the most accurate product experience, where they can evaluate the details of merchandise as well as any alternatives regarding colors, materials and finishes. The 3D Commerce format will represent a new standard for the visualization of products on e-commerce websites and in AR/VR applications”.

inVRsion has filed for an international patent for product 3D digitization based on algorithms of AI, Computer Vision and Object Content Recognition.

Since launching operations, the startup has received support from various advisors including BackToWork24 Srl and Invest Italy SIM Spa that by itself covered 50 per cent of the recent round.

Key investors who were involved in the recent round of founding include Italian Angels for Growth, the Milanese holding Finbeauty Srl, and LiftT Spa, a company born from the initiative of Compagnia di San Paolo and Politecnico di Torino through the foundation of Links.

Investors from previous rounds, prominent figures of the same society and members of the Advisory Board such as Mainardo de Nardis, entrepreneur and previously CEO of OMD (Omnicom Group), the biggest media agency in the world, have participated in the round.

www.invrsion.com