Proptech business Virtual Walkthrough has been acquired by immersive media and VR tech firm Matterport.
Virtual Walkthrough will now become a wholly owned subsidiary of Matterport with founding partner James Morris-Manuel maintaining a senior role within the company.
Morris-Manuel said: “This ground-breaking agreement is a ringing endorsement of the fast growing UK proptech scene. The UK property market is fully embracing new virtual technologies, with recent research by Nabarro showing that 81% of property professionals believe that virtual reality (VR) will change how developments are planned, marketed and leased in the next 10 years.
“Matterport and Virtual Walkthrough together are well placed to grow globally, becoming a driving force in the proptech community to produce extremely high quality products and collateral for all clients. We’re all more than ready to take the business to the next level.”
Launched in 2014, Virtual Walkthrough set out to change the way in which residential and commercial properties are marketed online, creating 360° online virtual tours.