- Reality capture and data company Matterport raised $48 million in a funding round aimed at expanding its artificial intelligence-driven 3D capture platform, TechCrunch reported and Matterport confirmed on Twitter.
- The backing from Lux Capital, DCM, Qualcomm Ventures and others reportedly comes ahead of a larger growth round involving both new and existing investors.
- The funding will help to build out Matterport Cloud 3.0 — a beta product set for launch next week — that converts panoramic or 360-degree imagery from spherical lens cameras into immersive 3D models for users in construction, real estate, design and other industries.
High costs could be the last straw for contractors that are either hesitant to adopt technology or struggling to get teams on board. But technology usually takes the trajectory of becoming more affordable as it advances, and as more spherical lens cameras have been coming onto the market at a lower-price point, Matterport has been able to offer a lower-cost solution.
Cloud 3.0, which debuted in January, supports a wider range of entry-level cameras and scanners than before. As more data is added to the Matterport database, the platform’s AI image-processing engine will improve in speed and accuracy via machine learning, the company claimed.
Joel Jacobson, integrated construction manager at Mortenson, told Construction Dive that Matterport played a key role in the contractor’s strategy of using technology to meet an aggressive schedule for the $505 million Mercyhealth Javon Bea Hospital and Physician Clinic-Riverside, which was completed in January.
An intuitive tool on its face, “we liked the idea that this was a lot of backend cloud-based computing power to stitch individual images [into] a fully immersive environment,” he said.
Matterport doubles as a “low-fidelity laser scanner,” Jacobson added, by capturing point cloud data along with immersive imagery. The Mortenson team used the virtual environment captured by Matterport as an overlay with the coordinated 3D model to hold field teams accountable to delivering the intended design, he said.
Matterport’s growth plays into a broader demand for immersive virtual technologies. Creating a virtual representation of a physical asset, or digital twin, allows for a more seamless exchange of data between the two. San Francisco-based startup Indus.ai, for example, captures jobsite activity in a digital environment via mounted cameras and can offer real-time visibility into data like delivery times, task durations or the number of workers on site.