California-based developer Matterport Inc announced that it was able to close its Series A-1 round with USD 2.8 million. Renowned entrepreneurs like Gordon Segal, the Founder of Crate & Barrel, and Blake Krikorian of Sling Media participated in the fundraising. The latest proceeds brought the capital that Matterport had raised so far to USD 10 million. Angel investors, Lux Capital, Greylock Partners, Felicis Ventures, Qualcomm Ventures, Navitas Capital, Rothenberg Ventures and Red Swan Ventures are Matterport's existing investors.
Matterport is a developer of cloud-based 3D spaces. Using the firm's 3D camera and cloud-based software system, clients can create and experience 3D digital models of physical spaces. It is especially helpful for designers, architects and inspectors. The platform allows them to realistically visualize the effect of changing the flooring, paint and furnishings of an indoor space.
Co-Founder and Chief Executive Officer of Matterport Matt Bell said the company had spent the last year testing the platform with its early adopters through its 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," he added.
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