Date Online: 2020-11-24
Saint-Hubert, Quebec, November 24, 2020 - Urbanimmersive Inc. (“Urbanimmersive”, the “Company” or “UI”) (TSX VENTURE: UI) (OTC PINK: UBMRF) is pleased to announce that EGP TechnoVirtuel Inc. (“EGP”), one of the largest and fastest-growing photography services business in Canada, has selected Urbanimmersive as its preferred 3D tours and floor plans provider.
After several years using other 3D scanning solutions, EGP recently initiated a rigorous process to find an alternative solution that would better fit both its client’s needs and its own productivity needs. After many trials and 3D tour technology comparisons, EGP concluded that Urbanimmersive’s new immersive 3D tours along with its integrated floor plans offered the most suitable solution for its high-volume real estate photography business.
As EGP integrates Urbanimmersive 3D tours and floor plans as one of its winning agent packages, EGP could rapidly become one of the largest Urbanimmersive customers in terms of revenues.
EGP’s President, Eric Paquette, stated: “As 3D virtual tours are now becoming the norm in the real estate industry due to the Covid-19 pandemic, more and more photographers are competing on virtual 3D tour prices to attract and retain agents. High-volume photography businesses need greater production efficiency in shootings, faster delivery time, appropriate margins and added value to stay competitive. Urbanimmersive has proved to exceed all these criteria thanks to their unique platform integrating customized and branded property websites, 3D tours, 3D Pocket WebsitesTM and integrated floor plans.”
As a clarification, real estate 3D tours can be produced using two categories of equipment: 3D scanners and 360 cameras. 3D scanners use laser and/or infrared systems enabling automated 3D tours creation processes. Photographers using 3D scanners will usually have their 3D tours delivered in just a couple of hours. 3D scanners come with a high cost of acquisition and time onsite utilization due to strict scanning rules and other limitations. However, they usually offer a faster post-production time, which is a prerequisite in the real estate market.
On the other hand, 360 cameras are most of the time just imagery cameras enabling photographers to decide how they want to showcase the final 3D environment based on the amount of time they can allow for the photo-shooting session. As 360 cameras do not include 3D scanning systems to assist in the creation of 3D scenes, their post-production processes require much more time (often counted in days) to be performed and therefore, come with a higher cost of post-production as well.
Urbanimmersive’s 3D tours Artificial Intelligence (“AI”) backed post-production technology significantly reduces post-production time linked to the use of 360 cameras. Therefore, photographers can take advantage of a cheaper hardware acquisition cost, faster shooting time on site while having their 3D tours delivered in just a couple of hours after uploading them on the Company’s platform. Urbanimmersive proprietary algorithm also enables charging post-production services at a fraction of the cost of other competitive solutions on the market which is key in the competitive real estate photography market.
“High-volume photography businesses are looking for low-cost hardware, quick photo shooting time and fast delivery turnaround. Thanks to our advanced AI-backed automated post-production algorithm, we can produce 3D tours and floor plans in just a couple of minutes, with most being delivered within 24 hours depending on the amount of jobs, while compared to 2 to 5 days from some of our competitors using the 360 cameras. With the recent launch of our premium floor plan solution, photographers do not need to look at other solutions to deliver the full package to their clients anymore”, stated Ghislain Lemire, Urbanimmersive’s CEO. “Having our 3D tours and floor plans being adopted by one of the largest photography businesses in Canada is a big endorsement and a clear indicator that we are very well positioned to continue attracting similar types of clients to our platform”, added Ghislain Lemire.
TSX Venture Exchange has not reviewed this press release and has neither approved nor disapproved the contents of this press release.
About EGP TechnoVirtuel
EGP TechnoVirtuel is a Canadian tech-based 20-year experience real estate photography agency. The success of EGP TechnoVirtuel relies on several propriety technologies enabling greater operational efficiency and photo-shooting added-value. The agency also provides real estate website marketing services and serves some of the top real estate agents in Canada. Learn more at ww3.bonnevisite.com.
Urbanimmersive is a SaaS business management solution that provides mission-critical solutions to visual content providers serving the real estate residential, commercial, construction, and local business markets. Urbanimmersive platform helps customers to increase operational productivity and delivering the full potential of visual content creations through leading-edge website builder tools, AI-backed image indexing, robust file transfer systems, and interactive visual technology solutions. The firm's core technology is a 3D emulator powered by a visual content recognition post-production algorithm that delivers online and offline alternatives to traditional 3D engines for the creation of immersive digital environments. Learn more at urbanimmersive.com.
Caution of Forward-Looking Statements
Certain statements in this news release, other than statements of historical fact, are forward-looking information that involves various risks and uncertainties. Such statements relating to, among other things, the prospects for the company to enhance operating results, are necessarily subject to risks and uncertainties, some of which are significant in scope and nature. These uncertainties may cause actual results to differ from information contained herein. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of the management on the dates they are made and expressly qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking statements should circumstances or management estimates or opinions change.
For more information, please contact:
Urbanimmersive Inc. Ghislain Lemire President & CEO
514-394-7820 X 202
Simon Bédard, CA, CPA, CFA, MBA
Chief Financial Officer
514 394-7820 X 224