AKULAR - Augmented reality platform for the visualisation of 3D models in real estate by Cviker

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127,14 %   

1 335 000 €

1 050 000 €

The cloud platform AKULAR aims to connect the advantages of communicating 3D construction models with the technology for their effective conversion and visualisation. AKULAR is responding to low rates of digitalisation and ineffective processes in construction, enabling the rapid visualisation of all types of 3D models in augmented reality (AR). On standard mobile devices, the platform is able to visualise 3D models of buildings and infrastructure in real size and directly in the context of its surroundings before actual construction has begun. As a result, the technology streamlines decision-making, planning and construction processes. For a wide range of stakeholders including architects, project managers, developers and clients, as well as the public, AKULAR provides visualisations of multiple project alternatives, thus reducing the need for costly physical mock-ups and can save project costs in the hundreds of thousands of euros.

  • Rapid and cost-effective 3D model visualisation – better decision-making and hundreds of thousands of euros in project cost savings
  • Visualisation and simple sharing of 3D models through standard mobile devices (tablet, phone) as well as specialized AR or VR headsets
  • Free dedicated app and communication medium for municipalities and the public regarding ongoing projects
  • Successful projects with leading US developers Boston Properties and JBG Smith – including visualisation of the new Amazon HQ2 at National Landing
  • Attendance at leading technology and real estate conferences including CES Las Vegas 2019, MIPIM, OECD Forum
  • Innovation prize for project on behalf of client FreeAxez at the 50th edition of commercial design event NeoCon
  • Attended startup accelerator Smart City Works in Washington, D.C.
  • Grants EUR 119,000 (Office of the Deputy Prime Minister of the Slovak Republic for Investments and Informatization) and USD 35,000 (US Connections under Slovak American Foundation)
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Required capital
1 050 000 €
Number of investors
60
Closing in
Interest shown
1 335 000 €
Minimal ticket
10 000 €

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About investment opportunity

INVESTMENT OBJECTIVE

  • Fully develop and automate the AKULAR platform for the real estate market supported by a strong and professional marketing campaign
  • Product adoption on the US and subsequently European and Asian markets – marketing campaigns, conference attendance, additional pilot projects for top development and architecture firms
  • Strengthening of technology team (primarily Slovakia) and sales teams (US and EU)

The vision of the company is to develop an effective communication platform, whose implementation of modern technology provides the conservative real estate market with increased transparency, process efficiency and thus real economic savings and value for all stakeholders.

 

TRADITIONAL VISUALISATION IN REAL ESTATE

Traditional communication of construction models is fragmented, time-consuming and opaque. Average project delays are by 20% and average budget overruns up to 80%. Working versions of architectural (BIM) 3D models are created using dedicated software and subsequently communicated to clients (developers, project managers, etc.) through series of personal meetings and time-consuming and costly customised presentation videos or physical mock-ups, which also require significant additional resources with every alteration to the project.

Furthermore, stakeholders in real estate are not only architects and developers – a significant number of additional parties have a direct or indirect interest in the construction lifecycle including cities and municipalities, regulatory bodies, citizens, wide-ranging networks of contractors as well as multiple different architectural and development firms participating on the same project.

The familiar challenge of delays and budget overruns in construction is thus also a result of highly complex communication processes between these parties and a lacking universal and inclusive channel for collaboration.

 

PRODUCT – THE AKULAR PLATFORM

The company’s product, AKULAR, is a simple and integrated digital platform providing all stakeholders an accessible tool for the communication of complex 3D models of construction projects. Using a browser interface, a user (architect, developer, project manager, etc.) is able to upload their 3D model, which is subsequently converted through the AKULAR cloud platform and optimized to be viewed in AR on a mobile device through its free app. The owner of the given model can grant access for other users to view it on their device, enabling instantaneous collaboration via the cloud in AR. Users are able to view their models in real size and directly in the context of its future geographical position as well as on any selected place or surface (e.g. conference room table).

 

ADVANTAGES OF AR IN REAL ESTATE

The simple and accessible interface of the AKULAR platform aims to provide a new communication standard for the real estate industry. By implementing AR, the communication of construction models becomes faster and more productive – following upload, an architect is able to share their models with other users, who are instantly able to access it. The platform enables users to view model variations (façades, linings, etc.), view the model from all angles and alter lighting. Crucially, AKULAR also enables the geo-location of a model to its precise geographical position and visualisation in the context of its real surroundings, allowing for better decision-making on behalf of clients and urban planners, while the platform comes at a fraction of the cost of custom studio visualisations. The result of more effective communication is faster and better decision-making, leading to faster construction cycles and cost savings in the range of hundreds of thousands of euros.

 

TARGET MARKET – USA

The company spent nearly a year surveying and building its reputation in the United States – the world’s largest commercial real estate market – and closed prominent visualisation deals with leading US developers including Boston Properties, JBG Smith and Plaxall. This cooperation provided AKULAR not only with positive references, but also direct access points to the $3 trillion US commercial real estate market.

The company intends to use its experience and references and launch the final and fully commercialised version of its platform in the US. The company’s strategy is to build on existing partnerships and subsequently expand into additional large and mid-sized development and architecture firms.

  • Total volume of the US commercial real estate market (2018) estimated at over USD 3 trillion (ca. 1/3 globally)
  • The company is initially focusing on larger US developers with over 200 employees. The target group is composed of ca. 28,000 project managers, constituting a market potential of ca. USD 5 million annually. This represents a simplified estimate of one market segment, as AKULAR already serves a wide range of professions in the real estate industry, particularly marketing and leasing departments, project managers and digital specialists in architecture studios as well as other contractors and manufacturers
  • After establishing a US foothold, AKULAR intends to expand onto the European and Asian markets

 

RESULTS AND PROJECTS TO DATE

  • Developer JBG Smith: visualisation of series of projects in Crystal City, Virginia, including the new Amazon HQ2 (total investments USD 2.5 billion, total est. capacity 1.2 million square metres and 25 thsd. new jobs). Realized revenue EUR 54 thsd.
  • Developer Boston Properties: façade visualisation for projects in Washington, D.C. and Reston, Virginia, cost savings of over USD 100 thsd.
  • FreeAxez: provider of raised flooring solutions, AKULAR provided a custom application for cabling maintenance on every floor of a given facility in AR
  • Viessmann: visualisation of entire digital portfolio for the global leader in cooling and heating devices. Development of dedicated AR application

 

AKULAR IN THE MEDIA:

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