Latvian proptech startup raises $16m in Series A
Startup based in Riga Giraffe360 raised $16 million in a Series A funding round led by a pan-European venture capital firm Founders Fund which has invested in many large companies including Airbnb, Spotify and SpaceX. The round also saw participation from its existing investors LAUNCHHub Ventures, Hoxton Ventures, HCVC (Hardware Club) and Change companies. Giraffe360 launches 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 increase property purchases through a realistic online experience. The startup offers the 3-in-1 virtual tour camera essential for real estate agents. Giraffe360 creates HDR photographs, virtual tours and floor plans with 98% accuracy. After its funding round, Giraffe360 moved its headquarters to London. They work with over 1000 brands in 30 countries to create list content.
“We are delighted to partner with Founders Fund. It is one of the strongest brands in the venture capital industry, with a solid track record in supporting category-defining companies,” said the CEO of Giraffe360. Mikus Opels. “Giraffe360 seeks to facilitate a better understanding of properties for end users and to eliminate the technology gap necessary to do so.”
“The new Giraffe Go Cam and the funding will help guide the transition to more immersive online property experiences as the world takes a more property-remote online approach,” Opelts said.
“Having been involved with a number of PropTech startups such as OpenDoor, we have recognized that some of these leading tech companies are not seeing their needs met, which means the mass market is definitely not seeing their needs met. needs met. Giraffe360 was a no-brainer and is really well suited to meet the needs of the market, both from a hardware and software perspective,” said the director of Founders Fund. Delian Asparouhov.
“As one of the first companies backed by the current LAUNCHub Ventures fund, we are excited about Giraffe360’s latest step which will further its claim to lead innovation in PropTech,” says Todor Breshkov.