Sep.13, 2013
Matterport, Inc., the developer for cloud-based 3D models of interior spaces, announced this week that it has raised a $2.8 million Series A-1 financing with participation from several renowned entrepreneurs, including Crate & Barrel founder Gordon Segal and Sling Media co-founder Blake Krikorian.
The company had raised a $5.6 million Series A round in March. Together with a $1.6 million convertible note that gave the company when it launched out of Silicon Valley's Y Combinator last year, Matterport has raised up to date $10 million. Matterport investors include Lux Capital, Felicis Ventures, Greylock Partners, Navitas Capital, Qualcomm Ventures, Red Swan Ventures, and Rothenberg Ventures, as well as prominent angel investors.
"Matterport is defining a new type of immersive imaging that allows people to capture, modify, and share 3D realities," said Matt Bell, Matterport co-founder and CEO. "Once 3D sensors are embedded in cameras and mobile devices, this experience will be commonplace."
"We've spent the last year engaged with a set of early adopters in several industries through our Beta program. We're now about to launch our version 1.0 commercially, and we have a very good definition of the feature set that's needed on top of that base platform to drive rapid adoption of our system in these vertical markets. This round of funding will help us accelerate development of those new features." added Bell.
According to an analysis from MarketsandMarkets, global sales in the 3D imaging market are expected to grow from $3.01 billion in 2013 to $9.82 billion by 2018 at an estimated compound annual growth rate of 26.7%. Matterport's business model, a combination of hardware with 3-D modeling software interests investors.
The company's 3D camera and cloud-based software system allows users to create, modify, and experience cloud-based 3D digital models of physical spaces. The models allows them to experience what a space is like today and what it could be like if changes were made to flooring, paint, appliances, structures, and furnishings.
Matterport expects the first version of its 3D scanner will be released this fall, and its sales will be mainly in the insurance industry which uses the scanners to evaluate claims and take accurate and quick property assessments, and to the home furnishings and remodeling sector.
Posted in 3D Scanning
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