Inspace XR

About

Inspace (Inspace XR) provides AR/VR building and architecture tools and a virtual 3D inspection platform for remote property viewing, VR design walkthroughs, and custom AR/VR consulting and hardware solutions.

Mission

Inspace offers a virtual inspection platform that lets buildings be viewed remotely in 3D and has been used in about $130 billion of property transactions. Its customers include large property owners and brokers such as Dexus, Mirvac, JLL, CBRE, Blackstone, Brookfield, ESR and Lendlease. Usage of the platform has driven 87% more online views for landlord customers and contributed to increased occupancy rates. The company says subscription revenue has grown almost fourfold since its 2021 seed round. Inspace plans to use new funding to build artificial intelligence capabilities to automatically generate transaction and marketing documents and provide predictive tenant insights. Management has also said a major focus is expanding its presence in the US market where it sees proptech opportunities amid commercial real estate stress. Inspace XR, founded in 2017 by Justin Liang and Eric Fear, develops augmented and virtual reality tools for the building and architecture sectors. Its flagship product, River Fox, lets architects and builders design spaces in VR and walk clients through them to reduce misinterpretation of plans. The company counts clients including JLL, Macquarie Bank, Charter Hall, and Folkestone. Inspace XR also operates Inspace Labs, a consulting arm that delivers custom AR/VR projects, strategic consulting, and hardware solutions. Management says the product addresses a global industry problem—Liang cites $55 billion in annual waste from construction mistakes due to misread designs. The startup plans to use the new funding for further product development and international expansion, with specific targets of China and the US.

Quick Facts