Giraffe360 raises 16 million dollar investment

Proptech startup Giraffe360, which simplifies the process of capturing real estate content, has raised a 16 million dollar investment led by San Francisco based venture capital firm Founders Fund, whose portfolio boasts names such as Airbnb, Spotify and SpaceX. The announcement comes as Giraffe360 gets set to launch its latest camera that will further revolutionise the way the property industry advertises homes online.

“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. Ever since Covid-19, there has been tremendous growth in remote work, in the demand for virtual tours and overall growth in a greater immersive reality straight from the computer screen.

“Giraffe360 seeks to facilitate a greater understanding of properties for end users, and to eliminate the technological gap that is required to do so,” 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.

Other venture capital firms that participated in the latest round included the existing investors LAUNCHub Ventures, Hoxton Ventures, HCVC and Change Ventures. In conjunction with the latest equity raise, Giraffe360 secured additional $6m in long-term loans from the London-based venture debt provider Columbia Lake Partners.

Launches new camera

Giraffe360 has driven innovation within the property industry, simplifying the process of property professionals creating high-quality photographs, floor plans and virtual tours, without the time and cost constraints of using a third-party provider.

“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.

Their new camera builds on their existing technology, boasting operating speeds three times faster than that of their current generation. Complete with a four-inch screen, 500 GB of internal memory and fast charging ability, their latest offering is also 30% lighter than their current camera.

Processes more than 1 million photos per year

Giraffe360 provides the property industry with a platform for producing professional floor plans, photos and virtual tours on a subscription basis, with full training and support. Their breakthrough camera technology uses a high-specification sensor, LIDAR laser and robotics. Giraffe360 helps the industry process more than 1 million photos per year.

The new investment of $16m follows previous funding of $6m from earlier years. In 2020 Giraffe360 raised 4.5 milion dollar investment, reported Labs of Latvia.

“Giraffe360” was founded in 2016 in Riga, Latvia by two brothers Mikus Opelts and Madars Opelts. The company employs almost 200 people, servicing clients across 30 countries.

Author: Anda Asere (labsoflatvia.com). Publicity photo.