Square Yards acquires creative design studio Oryden Tech Labs
The team of Oryden Tech Labs will join Square Yards
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New Delhi: Square Yards Consulting Pvt. Ltd which owns and operates real estate advisory firm Square Yards, on Monday said it has acquired creative and design studio Oryden Tech Labs in cash and stocks for an undisclosed amount. The team of Oryden Tech Labs will join Square Yards.
Founded by Keyur Bhalavat, an IIM-Ahmedabad alumnus and Ravi Patel, a design specialist, Ahmedabad-based Oryden Labs specialises in 3-D architectural designs, process visualization, digital walkthroughs and virtual reality.
The company which began as a 3-D architectural design studio soon ventured into other design services like industrial process design and virtual reality setups for products and buildings.
“Digital is increasingly becoming the game changer in real estate industry with concepts like interactive visualizations, virtual reality and augmented reality users to imagine their future home before moving in. Bringing in Oryden under the Square Yards umbrella will help us enhance our design and innovation bandwidth,” said Tanuj Shori, chief executive officer, Square Yards.
This is the third consecutive deal for the company. It acquired Singapore-based property consultant LUXE Real Estate and property search portal Realizing.in in June 2015. While the former was a cash and equity swap deal, LUXE was acquired in an all-cash deal for an undisclosed amount.
Present across 21 cities and six countries, the company said it had facilitated transactions worth $450 million so far. It has employee strength of over 900 people.
It raised $6 million in May from Singapore and Hong Kong-based investors.
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