PropTech startup Giraffe360 has raised more than £13 million of Series A investment.
The London firm has developed a camera that allows property professionals to create high-quality photographs, floor plans and virtual tours with little fuss.
San Francisco-based venture capital firm Founders Fund – whose portfolio boasts names such as Airbnb, Facebook, Spotify and SpaceX – led the funding round.
“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,” said Founders Fund principal Delian Asparouhov.
“Giraffe360 was a no-brainer, and is really well suited to meet the needs of the market from both the hardware and software front.”
Other venture capital firms that participated in the latest round included the existing investors LAUNCHub Ventures, Hoxton Ventures, HCVC (Hardware Club) 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.
Giraffe360 CEO Mikus Opelts commented: “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.
“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.
“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.”