New York virtual reality startup IrisVR has announced it raised a $8 million Series A.
The company, which came out of Techstars’ Winter 2015 cohort, allows architects, engineers and designers to use VR to create true-to-scale renderings of architectural projects. The funding was led by Emergence Capital, with participating investments from Indicator Ventures, Pritzker Group Venture Capital, Valar Ventures, Azure Capital Partners, Locke Mountain Ventures, and Morningside Group.
IrisVR launched in beta earlier this year, offering the first full-suite of products that can edit, share and visualize 3D models in virtual reality. The software is first-of-its-kind, and immediately caught the attention of 45 of the top 100 global design and architecture firms. Since then, the company has seen downloads in over 100 countries. Additionally, The company’s ‘Iris Prospect’ tool allows professionals to upload their existing plans and blueprints with only a few clicks, and immediately enter a virtual rendering of their design using a VR headset.
The company is currently operating in beta and is planning for an official launch before the end of the year.
“To date, VR has had the stigma of being some sort of gimmick, bordering on science fiction,” said Shane Scranton, Founder and CEO, IrisVR, in a statement. “Those perceptions are about to be shattered. There are real, industry changing applications for this technology and IrisVR is building one of them. Simply put, we’re reinventing the canvas on which a vast, global industry communicates. For design and construction professionals, the vision is the core of every project. IrisVR brings that vision to life.”
Cumulatively, IrisVR has raised $10 million funding. The company plans on using the new funding to accelerate the company’s growth, with a particular focus on recruiting additional talent. Right now, the company is specifically looking for creators and engineers interested in merging 3D and physical worlds and data-driven design to join its team.
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