Ericsson Invest in Matterport For 3D and VR Imaging
Ericsson Ventures is investing $5 million into Matterport for development of 3D and VR imaging platforms for business.
Matterport have been making a name for themselves in the virtual reality (VR) sector by producing high-quality 360-degree cameras and 4K DSLR still images. The company has previously partnered with construction and real estate firms to provide 3D floorplans and 360-degree walkthroughs of properties. Now Ericcson Ventures have announced it will be investing in the company.
Matterport currently has one of the largest libraries of 3D data of real-world locations, which has begun to be used for AI computer vision and machine learning to allow AIs to learn to understand spacial awareness and digital reconstruction. Matterport are planning to use the new investment to further accelerate its deep learning and research and development in order to further develop its 3D and VR platforms for business applications.
“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.”
“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, fuelled 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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