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Droom acquires Visiolab Ideas

Our Bureau New Delhi | Updated on October 01, 2020 Published on October 01, 2020

With this acquisition, Droom introduces an augmented reality/virtual reality lab

Online market place for automobile buying and selling Droom on Thursday said it has acquired Gurugram- based start-up Visiolab Ideas, for an undisclosed amount.

Droom introduces an augmented reality (AR) - virtual reality (VR) lab with this acquisition to enhance the customer experience in their vehicle buying research. Under the acquisition, both co-founders of the company will join the Droom team.

Droom will leverage technological innovations powered by AR/ VR in addition to tools using artificial intelligence, machine learning, and Big Data to offer new products and solutions for automobile commerce, the company said.

With this acquisition, Droom will provide a live virtual tour of vehicles to customers who can experience it in 3D. Droom allocated ₹50 crore last year towards building new and innovative products using AI, AR, and VR.

“At Droom, we have built industry-leading technology-focussed products like OBV, Eco, Droom History, Droom Discovery, and Droom Credit for bridging the gap in buying and selling vehicles online. This acquisition will further enhance our capabilities in offering delightful customer experiences and a completely online vehicle buying experience," Akshay Singh, Chief Strategy Officer, Droom said.

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Published on October 01, 2020
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