InVRsion is seeking to transform the shopping experience in a time when it’s most needed. The Milan-based startup has just raised €3 million in its third funding round, which closed on the 30th of April. InVRsion has created ShelfZone, a cloud-based SaaS application which simulates stores, products and shopping experiences in virtual reality with the highest level of realism on the market, enabling customers to increase their product’s value perception. Its founders have highlighted the potential for its application during the difficult times we’re living through where millions of people are engaging in social distancing and remaining in their homes.
ShelfZone By inVRsion Could Change the Way We Shop
Founded in 2015 by Matteo Esposito, Paolo Pascolo, Flora Caroli and Luca Ferrari Trecate, the goal of inVRsion is to disrupt the retail experience. It works closely with retailers and brands to improve sales effectiveness, save time and costs. ShelfZone serves many use cases: trade marketing presentation, training, consumer research and virtual-commerce. The startup also works in 3D product digitalisation field, with a strong pipeline in FMG 3D digital twin production. Currently, the company mainly supports B2B activities such as trade marketing negotiations, shopper research and training. However, it also carries out B2C activities, like virtual reality e-commerce.
Matteo Esposito, inVRsion’s co-founder and CEO, explained how this particular investment round was going to be able to support the startup on both fronts: “Since the start inVRsion has specialized in the standardization of the processes related to 3D products digitalization and in the development of 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.”
A variety of investors supported this particular venture, both old and new. BackToWork24 Srl and Invest Italy SIM Spa covered 50% of the round alone, and a number of other investors also took part, including Italian Angels for Growth, the Milanese holding Finbeauty Srl and LiftT Spa. Now, with this increased support, the startup hopes to help during the COVID-19 pandemic. InVRsion has announced new solutions for the fashion and luxury sectors where it believes it can make a difference in virtualising and improving the efficiency of distribution and sales.