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Modsy, a company that allows people to create 3D renderings of their home in order to visualize what it would look like with various kinds of furniture, has raised $23 million in a series B round of funding from Advance Venture Partners (AVP), Comcast Ventures, NBCUniversal Cable Entertainment, and Norwest Venture Partners.
Founded out of San Francisco in 2015, Modsy asks you to take several photos of the specific space you are looking to renovate. Upload these photos, answer a few style-focused questions, and Modsy does the rest. You’ll be presented with 360-degree room renderings featuring furniture from more than 100 retailers — and you can buy products directly through these designs.
The company had previously raised around $10 million in funding and with its latest cash injection plans to expand its retail and media partnerships, in addition to expediting its product development.
“Thanks to advancements in 3D renderings, the days of guessing how furniture and decor will look inside a space are long gone,” noted Modsy CEO and founder Shanna Tellerman. “This round of funding indicates that the industry is at a tipping point, and Modsy is leading the charge by taking a technology-first approach to transforming the home design market.”
Augmented reality (AR) has emerged as a key tool in many industries, including interior design. Ikea has offered AR smarts for several years already, letting you preview specific pieces of furniture in your home. And earlier this year, the Swedish retail giant launched the new Ikea Place app that lets you drag and drop specific pieces of furniture anywhere you like, displaying their true scale with a high degree of accuracy.
Modsy offers two core pricing tiers. The basic Modsy package costs $69 and features all of the above, including two custom designs. Modsy & Style Advisor offers a few extra perks, including one-on-one access to a human style adviser over video chat or telephone.
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