Vection takes aim at VR for construction with US multinational Autodesk
VR (virtual reality) company Vection Technologies (ASX:VR1) has flagged another step forward in the integration of its Mindesk platform with US software company Autodesk.
VR1 said the developments strengthen its position as a software provider to the Architecture, Engineering and Construction (AEC) sector, ahead of the commercial rollout of Mindesk in the September quarter.
The update follows on from a period of co-development with Autodesk — which specialises in Building Information Modelling (BIM) software — after Vection won acceptance into a partnership program with the firm last October.
Shares in VR1 rose by around 7% in morning trade to 5.9c following the announcement.
However, the stock is still well off its 12-month highs after a big 2020 rally which saw it hit an intraday peak of 20c last October.
As part of the product integration, VR1 highlighted a number of use-cases for Mindesk as part of the Autodesk product suite.
Included was a holographic capability, where users can deploy Microsoft’s Hololens 2 platform via Mindesk to generate a 3D graphic of the project under construction.
“This 3D view makes the communication between designer and non-experts extremely easy in complex projects scenarios,” VR1 said.
Users can also work on BIM projects remotely via the Mindesk cloud network, where building edits can be made on the Autodesk Revit platform and visualised in virtual reality by other remote participants.
And designers can build “instant photorealistic renders” by using Mindesk to link Autodesk Revit to 3D creation platform Unreal Engine to create professional grade images based off architectural layout designs.
VR1 said the integrated platform is positioned to take advantage of regulatory tailwinds, with the use of BIM technology now mandatory for publicly-funded building projects in the UK, Australia and some US states.
The Autodesk Revit platform serves a customer base of around 11m clients, VR1 said, including around 1m who “actively report Revit proficiency on their Linkedin profile”.
In that context, VR1 said its integration updates with Autodesk will allow it to access recurring revenue opportunities by leveraging Autodesk’s capillary global reseller network for the distribution of its VR products.
VR1 director Gabriele Sorrento said the announcement demonstrates the capacity of the Mindesk platform to bring together “all the most popular AEC software in a real-time ecosystem that meets the designers’ needs across their work pipeline”.
“The release of Mindesk for Autodesk Revit is a significant advancement for Vection as it progresses its global strategy within the AEC & Real Estate vertical,” managing director Gianmarco Biagi said.