For the venture capitalists funding this new sector, proptech is a broad category, encompassing commercial and residential real estate, and tools that support data/investment as well as construction/operations — real estate technology comprises everything from software to sensors. If you consider the broader proptech sector as divided into four quadrants, then institutional investors in real estate are likely to be most interested in the quadrant that covers commercial real estate investment and data tools.
In today’s technology-driven era, we consume, look forward to and find inspiration in the latest tech advances that make our lives easier. Though the human touch is an unbeatable force when it comes to design, there is no doubt that technology is essential in propelling our society towards spectacular advances, new discoveries and achieving goals.
Apple is rumored to be launching new Augmented Reality (AR) and Virtual Reality (VR) products by year 2020. They have been researching this technology for over 10 years, but with the increase in popularity and demand of this technology, insiders report that they have hired hundreds of new employees to a research unit dedicated to finding ways AR and VR can be implemented in future products. To those who do not know the difference between Augmented and Virtual Reality, Augmented Reality (AR) is when you have a modified view of the real world while VR is when you are fully immersed into the virtual world. In other words, with VR you cannot see anything in the real world while in AR you can still see the real world around you.
Radical Galaxy Studio, a technology company specializing in high-end virtual and augmented reality experiences, spoke at the Architecture, Engineering and Construction (AEC) event April 19th-20th in Washington DC.
Where is the mall headed?
Mall owners are redeveloping and reimaging their properties to be relevant in today’s changing retail market. Many properties are going through major redevelopments trying to create an experience, not just a place to shop. Whether it’s offering more dining and entertainment options or having interactive features such as showcasing the latest augmented reality tech, the malls are keen to create opportunities for the consumers to engage more actively with physical retail.
Today, Radical Galaxy Studio, a real estate technology firm with offices in the greater Seattle area and New York City, announced that Lochwood Lozier, a high-end custom home builder based in Redmond, Washington, has named Radical Galaxy Studio as its preferred Virtual Reality (VR) provider.