Real estate aggregator Square Yards has acquired Oryden Tech Labs, a creative & design studio based out of Ahmedabad. The financial figures of the deal have not been disclosed yet. The entire team of 12 employees of Oryden, including its founders, will join Square Yards.
It is the third acquisition in a year for Square Yards, after acquiring realizing.in & LUXE. LUXE was a Singapore based luxury realty agency whereas the Square Yards was a search & discovery portal known for having best of algorithmic & analytics based property research.
All three acquisitions have been made to overcome the gaps the company was facing in product operations and services delivery.
Founded by Keyur Bhalavat, an IIM-Ahmedabad alumnus & Ravi Patel, a design specialist, Oryden started as a 3-D architectural design studio but eventually ventured into various other design services like industrial process design & virtual reality setups for products and buildings, Square Yards said in a statement announcing the acquisition.
With the advent of digital technologies, real estate industry has undergone a complete makeover. Concepts like interactive visualization, virtual reality, augmented reality, etc. have unleashed an array of options for users to customize their homes, prior to moving in. Hence besides online portals for searching and booking houses, more niche realty startups are coming up that offer several add ons for a better user experience while buying homes.