EeGeo picks up $5M to construct higher 3D visuals for interiors and VR experiences
Startups engaged on excessive-high quality immersive visuals and the tech to realize them are in demand lately, and at present one which focuses particularly on interactive outside and indoor 3D mapping is saying a spherical of funding to assist gasoline its progress.
London-based mostly eeGeo, which works with the likes of Cisco, Samsung and extra on mapping purposes for shoppers and companies, has raised $5 million, cash that it’ll use each to broaden its enterprise in areas like 3d mapping purposes, but in addition transfer deeper into newer areas the place high quality immersive visualizations are going to be important — reminiscent of digital actuality environments.
The funding comes from a gaggle of unnamed particular person buyers and is led by NetSol Applied sciences, an organization that gives IT options to the asset finance business. This can be a strategic relationship, during which NetSol engineers will work with eeGeo on new merchandise. The funding values eeGeo at simply over $26 million, based mostly on the entire quantity NetSol will make investments ($three.912 million, based on this announcement) and the share stake that it’ll have in eeGeo consequently (15%).
eeGeo declined to reveal how a lot it has raised so far, however once we coated the corporate’s first shopper-dealing with providers, underneath the identify Recce, we famous that it had raised $four million from NEA as properly.
You might not know eeGeo by identify, however you could have come throughout its tech anyway: the corporate says that collectively, apps that use eeGeo’s know-how have been downloaded greater than four.5 million occasions.
Familiarity with the eeGeo model may change down the road, given the corporate’s DNA.
EeGeo’s co-founders — CEO Ian Hetherington and Rian Liebenberg — respectively got here from Sony (Hetherington’s earlier startup, Psygnosis, was acquired by Sony and was central to the event of the PlayStation and its gaming efforts) and Google (Liebenberg was a senior determine in Google’s engineering staff, creating Hangouts and rather more). Liebenberg left eeGeo to turn out to be the CTO for the Schibsted Media Group in 2014.
The startup’s preliminary public forays, too, have been shopper: they included Recce, an interactive map that’s additionally a gaming platform, and Go Ship, a Groupon-meets-Gowalla sort interactive and branded location-based mostly, advertising platform constructed out within the type of a recreation. “The shopper play is extra visualization for the social community,” Hetherington defined when requested about the place we’d see eeGeo subsequent on the buyer entrance.
However most of what eeGeo has been busy with within the final couple of years has been the B2B play, the place it began first with outside maps however has discovered a really profitable alternative with indoor visualizations.
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Issues with mobile alerts often imply that organisations have to resort to pricey gear to map interiors precisely. Nevertheless, that is one thing that companies are more and more wanting and utilizing in their very own advertising and buyer performs, so corporations which might be capable of provide you with methods of mapping and visualizing interiors extra economically are fascinating.
Considered one of eeGeo’s tips is that it’s capable of make inside 3D visualizations based mostly on 2D maps. “You possibly can submit 2D flooring plans and we convert that to 3D,” Hetherington stated. It’s already coated some 25,000 constructing interiors this manner, together with airports, buying malls and extra.
Down the road, Hetherington stated that eeGeo needs to increase its mapping knowledge by means of crowdsourcing, the place the apps that combine its tech additionally turn into automobiles to ingest extra info to enhance accuracy, particularly for indoor maps. Indoor maps are an space the place Hetherington says the firm is working with another very fascinating tech corporations beneath NDA.
Apparently, eeGeo not the one one that’s following the crowdsourcing mannequin to enhance indoor mapping. Final November, Apple quietly launched an Indoor Survey app, used to assist organizations which might be on Apple’s Indoor Positioning service higher map out their inside areas utilizing an iPhone’s sensors and close by radio frequency knowledge — and no particular hardware and even distinct interactions. You merely stroll round inside together with your telephone to feed the app knowledge. Apple is working with numerous third events on this service.
eeGeo shouldn’t be the one firm that’s exploring the right way to construct these sorts of 3D visualizations, each for indoor and outside areas, however Hetherington factors out that it’s one of the crucial versatile available on the market as we speak. Some corporations, he stated, don’t need the “Google Maps” expertise — that’s, a map that you would be able to immediately inform comes from the search big’s database.
“Individuals like NTT [and eeGeo customer] construct their very own apps, and utilizing us they’ve the selection for a way they reprsent the map. They’ve their very own model id and usually are not ready to subsume that to a Google or an Apple,” he stated. “That sense of possession is one cause we’re getting enterprise.”