US-based 3D scanning technology developer Matterport raised $16m in a series B round that featured Qualcomm Ventures, the corporate venturing arm of wireless communication technology company Qualcomm.
The round was led by venture capital firm DCM and also included AME Cloud Ventures, the venture fund that represents Yahoo co-founder Jerry Yang, as well as Lux Capital, Felicis Ventures, Greylock Partners, Navitas Capital, AMD Ventures, Rothenberg Ventures and assorted private investors.
Matterport’s equipment can scan rooms to create 3D models that can then used by retail, construction and insurance companies. The company has also developed a cloud service called 3D Showcase that provides imaging of locations from viewpoints based on 3D models.
The new funds will be used to expand Matterport into the real estate and home improvement sectors, and to further develop its mobile app.
In March 2013, Qualcomm contributed to the $5.6m first tranche of Matterport’s series A round alongside Lux Capital, Felicis Ventures, Red Swan Ventures and Greylock Partners. The round closed at $8.4m after a $2.8m second tranche was secured in September.
Founded in 2011, Matterport was launched out of the Y Combinator accelerator and raised $1.6m in seed financing in 2012.