GeoCV, a New York-headquartered startup with Russian roots, has secured $1.8 million from Runa Capital, a venture fund with Russian roots operating globally, its existing investor Moscow-based fund Emery Capital, and several US business angels.
The funds will be used to develop the product and develop sales in the US market.
“Our goal is to become the world’s number one solutions provider for 3D capturing. Real estate is a beachhead market, where agents can include a 3D virtual tour in their listing. Other brick and mortar industries such as construction, interior design, insurance and property management will follow,” said Anton Yakubenko, GeoCV co-founder and CEO.
“In the longer-term future, user-generated content will come as everyone will have a 3D camera in their pocket with AR and VR viewing functions,” he added.
GeoCV’s solution aims to provide photorealistic 3D interior models in a quick, easy and affordable way without any special equipment or expert intervention. The app uses data from 3D-sensors consisting of specialized cameras. These measure the distance between the device and every point of an object.
While GeoCV’s technology is currently in closed beta, the company already offers its service to New York realtors at $149, which is much cheaper than the average market price.
“In the future, the technology may be used in e-commerce and computer gaming,” Russian tech blog Firrma quoted Runa Capital Investment Director Dmitry Galperin as saying.
In 2015, the startup raised $100,000 investment from Starta Capital and the Moscow Seed Fund. The round was followed by $1.15 million investment from Emery Capital and Starta Capital later that year.
GeoCV participated in two US acceleration programs at Rothenberg Ventures River and Starta Accelerator, according to Firrma..
Source: Emery Capital, Firrma
