Riga-based startup Giraffe360 has raised $16 million in a Series A funding round led by pan-European VC firm Founders Fund which has invested in many major companies including Airbnb, Spotify and SpaceX. The round also saw participation from its existing investors LAUNCHub Ventures, Hoxton Ventures, HCVC (Hardware Club) and Change Ventures. Giraffe360 gets is launching its latest camera which is three times faster than current generation cameras.
Established in Riga, Latvia in 2016, Giraffe360 was developed by Mikus Opelts and Madars Opelts to create a product that would enable seamless property scans and elevate property purchases through a true-to-life online experience. The startup offers the essential 3-in-1 virtual tour camera for real estate agents. Giraffe360 creates HDR photography, virtual tours and floor plans with 98% accuracy. Following its seed round, Giraffe360 moved its headquarter to London. They work with over 1000 brands in 30 countries to create listing content.
“We are very excited to partner up with Founders Fund. It is one of the strongest brands in the VC industry, with a strong track record of backing category-defining companies,” said Giraffe360 CEO Mikus Opelts. “Giraffe360 seeks to facilitate a greater understanding of properties for end users, and to eliminate the technological gap that is required to do so.”
“The new Giraffe Go Cam and funding will help guide the transition toward more immersive experiences of properties online, as the world takes on a more remote, online approach to properties,” said Opelts.
“After being involved in a number of PropTech startups such as OpenDoor, we’ve recognised that some of these tech-forward companies aren’t having their needs met, which means that the mass market definitely isn’t having their needs met. Giraffe360 was a no-brainer, and is really well suited to meet the needs of the market from both the hardware and software front,” said Founders Fund principal Delian Asparouhov.
“One of the first companies backed by LAUNCHub Ventures’ current fund, we’re excited with Giraffe360’s latest milestone that will strengthen their claim of leading the innovation in PropTech,” says Todor Breshkov.
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