US-based 3D modelling technology developer Matterport has received $48m in funding from investors including Qualcomm Ventures, the corporate venturing subsidiary of mobile semiconductor technology provider Qualcomm.
The corporate was joined by venture capital firms DCM and Lux Capital, as well as undisclosed other existing investors. The round valued the company at $325m pre-money, and sources told TechCrunch that Matterport plans to now line up a growth round.
Founded in 2011, Matterport has developed a camera and attendant software that enables users to recreate 3D and virtual reality versions of real-world spaces such as houses, hotels and commercial properties.
The platform can also use artificial intelligence to turn 2D pictures into virtual spaces that users can navigate through via mobile and web apps.
The company had raised almost $63m in equity funding according to TechCrunch, the latest of which was an undisclosed amount from State Auto Labs Fund, a venture formed by insurance provider State Auto and VC firm Rev1 Ventures, in May 2018.
Ericsson Ventures, the corporate venturing arm of communication technology manufacturer Ericsson, had provided $5m in funding for Matterport in May 2017, the year after it raised an undisclosed sum from real estate developer CBRE, and media group News Corp, Luminari Capital and Sound Ventures.
The company had previously closed a $30m series C round in 2015 that was led by Qualcomm Ventures and backed by Singaporean sovereign wealth fund GIC.
Qualcomm also took part in Matterport’s $16m series B round the year before, as did DCM, AME Cloud Ventures, Lux Capital, Felicis Ventures, Greylock Partners, Navitas Capital, AMD Ventures, Rothenberg Ventures and various private investors.
Matterport had received $7.4m in series A funding in 2013, from Qualcomm Ventures, Lux Capital, Felicis Ventures, Greylock, Red Swan Ventures and a range of angel investors.
Photo courtesy of Matterport, Inc.