US-based 3D modelling technology developer Matterport has secured $30m in a series C round led by Qualcomm Ventures, the investment arm of semiconductor technology provider Qualcomm.
The round also featured Singaporean sovereign wealth fund GIC, which participated as a new investor, and undisclosed existing investors in Matterport.
Matterport’s technology enables users to digitally recreate real world spaces in virtual reality (VR) and augmented reality (AR), as well as in web and mobile apps.
The company will use the funding to scale its operations, expand its app developer platform and accelerate work on its mobile capture technology for VR and AR.
The round took Matterport’s total funding to approximately $56m and follows a $16m series B round in July 2014 backed by Qualcomm Ventures, DCM, AME Cloud Ventures, Lux Capital, Felicis Ventures, Greylock Partners, Navitas Capital, AMD Ventures, Rothenberg Ventures and various private investors.
Qualcomm Ventures also participated in the company’s $7.4m series A round in 2013, investing alongside Lux Capital, Felicis, Greylock, Red Swan Ventures and a range of angel investors.
Patrick Eggen, senior director of Qualcomm Ventures, said: “Matterport is an advanced, end-to-end 3D imaging platform with customer momentum in both established industries such as real-estate and emerging industries such as VR. As 3D sensors become mainstream in smartphones, we believe the bigger opportunity for Matterport lies in mobile.”