Ericsson Ventures’ $5 million investment in Matterport to improve 3D capture
Ericsson Ventures just joined the immersive media technology company Matterport’s list of strategic investors. The media company builds 3D and Virtual Reality (VR) media solutions that power industries from real estate to entertainment.
As for Ericsson Ventures, the company joins a team of other strategic investors constituted of Lux Capital, DCM Ventures, Qualcomm Ventures, AMD Ventures, AME Cloud Ventures, CBRE, Felicis Ventures, GIC, Crate and Barrel founder Gordon Segal, iGlobe Partners, Navitas Ventures, News Corp, and Sound Ventures.
“We’re excited to partner with Ericsson Ventures as we work to extend our lead in the market and bring Matterport’s scalable, cloud-based immersive media platform to more industries in the U.S. and abroad,” said Bill Brown, Matterport CEO. “Ericsson Ventures saw the tremendous opportunity Matterport has to extend our technology lead by using our massive library of 3D models as a deep learning training dataset to create AI that will be the basis for our next generation products. This strategic investment will help us to more quickly develop the technology to its full potential and achieve our mission of making 3D models the primary medium for digitally experiencing, understanding, sharing, and reimagining the world.”
The service behind 3D models, AR, VR
With its library of 3D space data, the technology company enables users to have access of over half a million 3D models of real-world spaces. It develops the use of deep learning to create the next generation of AI-based computer vision technologies intended for the digital reconstruction and detailed understanding of spaces.
With these funds, the company will accelerate its deep learning R&D efforts, develop its end-to-end platform, and reaffirm its leadership position in 3D and VR business solutions.
‘‘Ericsson has time and again proven instrumental in enabling new ecosystems that benefit from ever increasing connectivity performance. Technologies such as AR/VR and 3D computer vision is one such ecosystem that we believe is expected to experience rapid growth, fueled by dramatic improvements in bandwidth availability and latency periods,” said Albert Kim, Head of Ericsson Ventures. “We are very excited to be a part of Matterport’s revolutionary journey going forward, as it continues to disrupt large existing markets while creating a differentiated technology stack and unique data set in 3D computer vision.“
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