Ericsson Ventures has joined the growing list of strategic investors for Matterport, and immersive media technology compamy, with a $5 million investment. Matterport has built the world’s most advanced platform for quickly and easily creating, understanding, and distributing 3D models of real-world spaces. The company also has the world’s largest library of 3D space data, consisting of over half a million 3D models of real-world spaces, fueling its use of deep learning to create the next generation of AI-based computer vision technologies for the digital reconstruction and detailed understanding of spaces.
With this investment, Ericsson Ventures joins Lux Capital, DCM Ventures, Qualcomm Ventures, AMD Ventures, AME Cloud Ventures, CBRE, Felicis Ventures, GIC, Crate and Barrel founder Gordon Segal, iGlobe Partners, Navitas Ventures, News Corp, and Sound Ventures as investors in Matterport.
For those who are not yet familiar with it, Matterport is an immersive media technology company that delivers an end-to-end system for creating, modifying, distributing, and navigating immersive 3D and virtual reality (VR) versions of real-world spaces on the Web, mobile devices, and VR headsets. The Matterport Pro2 Camera and Cloud Services make it quick and easy to turn real-world places into immersive virtual experiences.
“We’re excited to partner with Ericsson Ventures as we work to extend our lead in the market and bring Matterport’s scalable, cloud-based immersive media platform to more industries in the U.S. and abroad,” said Bill Brown, Matterport CEO. “Ericsson Ventures saw the tremendous opportunity Matterport has to extend our technology lead by using our massive library of 3D models as a deep learning training dataset to create AI that will be the basis for our next generation products. This strategic investment will help us to more quickly develop the technology to its full potential and achieve our mission of making 3D models the primary medium for digitally experiencing, understanding, sharing, and reimagining the world.”
Matterport’s all-in-one camera automates the creation of high-quality 4K 2D photography, state-of-the-art 3D models and Web, mobile, and VR experiences, and floorplans. Together with the Matterport Cloud, the end-to-end automated system offers customers a solution for quickly and inexpensively capturing, distributing, and visualizing properties in 2D and 3D on Web, mobile and in VR.
The company plans to use the funds to accelerate its deep learning R&D efforts, extend its end-to-end platform, and further its leadership position in 3D and VR business solutions while building out its global infrastructure.
“Ericsson has time and again proven instrumental in enabling new ecosystems that benefit from ever increasing connectivity performance. Technologies such as AR/VR and 3D computer vision is one such ecosystem that we believe is expected to experience rapid growth, fueled by dramatic improvements in bandwidth availability and latency periods,” said Albert Kim, Head of Ericsson Ventures. “We are very excited to be a part of Matterport’s revolutionary journey going forward, as it continues to disrupt large existing markets while creating a differentiated technology stack and unique data set in 3D computer vision.”
Matterport serves customers across multiple industries, including residential real estate, multifamily, commercial real estate, vacation rentals, hotels, business listings, architecture, engineering, construction, insurance, and facilities management. To date, over 550,000 spaces have been captured, generating more than 220 million views globally. The company also has a network of 2500+ service providers across 80 countries. It is headquartered in Sunnyvale, California with additional offices in San Francisco, Chicago, and its EMEA headquarters is in London.