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AcquisitionAIArraiyNewsPR Newswire

Matterport to acquire AI-driven production platform Arraiy9752

DanSmigrod private msg quote post Address this user
Matterport to acquire AI-driven production platform Arraiy

SUNNYVALE, Calif., July 10, 2019 /PRNewswire/ -- Matterport, the world leader in 3D capture technology and data, announced today that it intends to acquire Arraiy, the pioneer behind breakthrough machine learning and computer vision technology that allows visual creators to integrate real and virtual worlds.

Matterport introduced the category of affordable 3D capture for business and has increased adoption of 3D capture and visualization technology across industries, including architecture, engineering and construction (AEC); insurance, restoration, and property claims; travel and hospitality; residential and commercial real estate; among others. Arraiy has developed a self-improving artificial intelligence (AI) software that leverages machine learning and computer vision to unlock new techniques for integrating real and virtual digital imagery.

Upon completion, the acquisition will integrate Arraiy's core engineering team into Matterport in support of the company's mission to build the industry's leading computer vision data platform. Earlier this year, Matterport took a significant step toward achieving this aim with the launch of its proprietary cloud software, Matterport Cloud 3.0, and AI engine Cortex, leveraging AI-powered image-processing technology to transform panoramic and 360-degree images into fully immersive 3D models; understand objects, rooms and the detailed characteristics of a space and label specific rooms on a floor plan.

"Arraiy has assembled some of the very best minds in the industry to solve really hard problems in machine learning and computer vision today," said RJ Pittman, CEO of Matterport. "By integrating Arraiy's groundbreaking technology and talented team, we will be able to accelerate the creation of new products and features that will make Matterport significantly more powerful and accessible to both new and existing users."

"The Arraiy team is thrilled to join with Matterport to continue to innovate with computer vision and machine learning," said Ethan Rublee, CTO and founder of Arraiy. "I'm convinced that Matterport's platform will enable incredible opportunities to leverage AI in the places we live and work."

The Arraiy acquisition will also bring Matterport into close collaboration with OpenCV, the AI industry's leading open source computer vision and machine learning software initiative, led by Arraiy co-founder Gary Bradski.

"We look forward to working closely with our newest team members and the Arraiy CV tech stack, along with Gary Bradski and the OpenCV initiative to expand our role helping to shape the computer vision industry," said Dave Gausebeck, co-founder and CTO of Matterport.

"Matterport's industry-leading 3D capture technology has harnessed the power of computer vision and deep learning to transform multiple industries throughout the built world," said Bradski. "We see fresh potential to further disrupt these markets by leveraging our combined advancements in the field of computer vision and machine learning."

About Matterport

Matterport is the world leader in immersive 3D technology, offering a platform for prosumers and professionals to easily capture, edit and share 3D models of physical spaces. These navigable virtual tours are presented in Matterport's proprietary photo-realistic digital media format. Experience places through Matterport's interactive 3D models online as if you are actually there:

Source: Matterport via PR Newswire
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DanSmigrod private msg quote post Address this user
Hi All,

Arraiy received $13.9 million in funding among two rounds with the last round on 27 March 2018 for $10 million, according to CrunchBase.

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DanSmigrod private msg quote post Address this user
TechCrunch (11 July 2019) Matterport acquires AI special effects startup Arraiy
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60070 3 3
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