3D Camera Company Raises $13 Million in Venture Capital
In a recent article by the Wall Street Journal Blog, Matterport Inc, a 3D camera maker raises $13 million in venture capital and tweaks their overall business strategy. Matterport Inc. closed on 16 million in a new round of funding to prepare a market for three-dimensional, immersive photographs and video. However, currently the company is focusing more on real estate versus cameras. DCM was the one leading the Series B investment in addition to AME Cloud Ventures, a venture fund from Yahoo Inc. Jerry Yang, co-founder of Yahoo Inc. was participating as a new investor. Some of the returning investors were AMD investors, Felicis Ventures, Greylock Partners, Lux Capital, Navitas Capital, Qualcomm Ventures and Rothenberg Ventures, as well as Crate & Barrel founder Gordon Segal and Sling Media founder Blake Krikorian.
The camera that Matterport makes and sells retails for around $4,500. It scans indoor spaces and from there the software stitches the images together into 3D models. Matterport hosts these models online in order for customers to link or embed the content to their websites. According to CEO Bill Brown, the company has made some alterations to the strategy of the company. Now, the company is offering real estate customers a combination of two standard two-dimensional views of space. As the company adjusts to these changes, the company also looks into the future and expects to see 3D scanning everywhere. Matterports technology and projects imagine a world where three-dimensional images and video is captured in space and stitched together to create a story or memory for someone. The company believe that people will seek this kind of intensity and want to relive these captured memories that Matterport’s cameras provide. However, these hopes and wishes will only come to play when smartphones have 3D sensors built into them. Google has recently been working on Project Tango, which includes a prototype mini 3D scanner.
Matterport is waiting for the time when 3D scanners and technology are as ubiquitous as they hope. If it ends up this way, the company would be able to serve as a platform technology. The company would be able to use its software algorithms to create quick, clear images and enable sharing and manipulation. For the mean time, Matterport is focused on selling its cameras and devices and working its way into the real estate market. With the new money, the company will be able to expand its professional business in real estate as well as in home improvement and furniture sectors.
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