Matterport, a US-based 3D modelling technology developer backed by corporates CBRE, Ericsson, News Corp, PTC and Qualcomm, has raised $39.1m in funding, according to a regulatory filing.
Founded in 2011, Matterport has developed a camera and software that work together to generate three-dimensional and virtual reality recreations of physical spaces.
Applications for the technology include capturing an environment to design buildings, promoting properties through virtual walkthroughs and determining risk to select the right insurance policy.
The filing indicates Matterport is targeting $45.8m in the latest round, which would follow an investment of undisclosed size by internet-of-things software producer PTC in June 2019 through a strategic partnership focused on the launch of an augmented reality tool to visualise factories and plants.
Matterport secured $48m from Qualcomm Ventures, DCM Ventures, Lux Capital and unnamed existing investors at a $325m valuation in March 2019.
State Auto Labs Fund, the vehicle established by insurer State Auto and venture capital firm Rev1 Ventures, supplied an undisclosed amount for the company in 2018, the year after Ericsson Ventures, a subsidiary of communications technology producer Ericsson, had injected $5m in capital.
Real estate developer CBRE and media group News Corp had taken part in a round of undisclosed size for Matterport in 2016 together with Luminari Capital and Sound Ventures. Qualcomm Ventures led its $30m series C round the previous year with a contribution from Singaporean sovereign wealth fund GIC.
Qualcomm Ventures had already participated in the company’s $16m series B round in 2014, investing alongside DCM, AME Cloud Ventures, Lux Capital, Felicis Ventures, Greylock Partners, Navitas Capital, AMD Ventures, Rothenberg Ventures and assorted private investors.
Matterport had previously received $7.4m in a 2013 series A round that included Qualcomm Ventures, Lux Capital, Felicis Ventures, Greylock, Red Swan Ventures and several angel investors.
