3D modelling technology developer Matterport has announced its intention to acquire Arraiy, a US-based film production technology developer backed by telecommunications group SoftBank and marketing firm Dentsu, for an undisclosed amount.
Arraiy operators artificial intelligence-powered real-time video tracking software that uses machine learning and computer vision technology to help producers integrate special effects into films.
Following completion of the deal, Matterport will onboard Arraiy’s engineering team and technology.
RJ Pittman, chief executive of Matterport, said “By integrating Arraiy’s groundbreaking technology and talented team, we will be able to accelerate the creation of new products and features that will make Matterport significantly more powerful and accessible to both new and existing users.”
SoftBank Ventures, a corporate venture capital subsidiary of SoftBank, and VC firm Lux Capital co-led Arraiy’s $10m series A round in March 2018, investing alongside Dentsu’s corporate venturing subsidiary, Dentsu Ventures, as well as Cherry Tree Investments, IDG Capital and CRCM Ventures.
The company initially reeled in $3.9m in seed funding from undisclosed investors in 2017, according to a regulatory document.