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EricssonFundingVenture Capital

Matterport got 5M from Ericsson Ventures5276

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JuMP private msg quote post Address this user
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SUNNYVALE, Calif., Aug. 22, 2017 /PRNewswire/ -- Immersive media technology company Matterport today announced that Ericsson Ventures has joined its growing list of strategic investors with a $5 million investment. Matterport has built the world's most advanced platform for quickly and easily creating, understanding, and distributing 3D models of real-world spaces. The company also has the world's largest library of 3D space data, consisting of over half a million 3D models of real-world spaces, fueling its use of deep learning to create the next generation of AI-based computer vision technologies for the digital reconstruction and detailed understanding of spaces.

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According to Matterport's website, Matterport got $61+ M already before this 2017.
Why this time only $5M? What do you think about this?
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TerryBox private msg quote post Address this user
Why are they seeking additional funding at all? If they are selling products and services are they not profitable on their own? Is the additional funding for further R&D? What does Ericsson Ventures expect out of the deal and how will that affect MSPs? What does Matterport plan to do with their vast model library that MSPs scanned but Matterport owns?

Those are the questions that concern me.

TB
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DanSmigrod private msg quote post Address this user
@JuMP
@TerryBox

I could imagine that Matterport wants something form Ericsson - and Ericsson is willing to do what Matterport is asking for - but wanted equity in order to do the deal.

What product or service does Ericsson offer that Matterport would want so much that it would do this deal?

Dan
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