Aug 22, 2017 | By Tess

Matterport, a California-based immersive media tech company known for its real-world 3D model generation technology, has secured a $5 million investment from Ericsson Ventures. The recent funding will help it to grow and advance its innovative artificial intelligence (AI) computer vision technology, which is mainly used to scan and capture spaces for the real estate and commercial markets.

The investment, which marks a significant step ahead for Matterport, also signals the addition of Ericsson Ventures to its already long list of investors. The list currently includes DCM Ventures, Qualcomm Ventures, Lux Capital, AMD Ventures, AME Cloud Ventures, CBRE, GIC, and several more.

Matterport offers its clients a unique room-scanning technology which consists of an “all-in-one” Matterport Pro2 3D camera and the Matterport Cloud. Placed in a room, the Matterport Pro2 system is capable of capturing high-quality (4K) two-dimensional photos of a space, as well as 3D models which can be used for a number of mobile, web, floorplan, and virtual reality applications.

Considering all these capabilities, it is no wonder that Matterport’s scanning technology and automated space generating technology has caught on in the real estate industry, as it has enabled realtors to improve how their clients can visualize a space.

According to Matterport, the recent $5 million investment from Ericsson Ventures will allow it to further accelerate its deep learning R&D projects, improve and expand its end-to-end platform, and solidify its position within the 3D model and virtual reality industries.

"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," commented Bill Brown, CEO of Matterport.

"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 currently boasts one of the world’s largest digital libraries of 3D environments. The online repository holds over half a million scans of both public and private spaces which have been captured by Matterport’s various clients.

“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," added 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.”

Last year, Matterport teamed up with Airbnb for a pilot project that saw the vacation rental website integrate 3D virtual tours into its platform. The company also has clients in all areas of the real estate industry, as well as in the fields of architecture, engineering, construction, insurance, and more.

Posted in 3D Scanning

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