Giraffe360, a proptech startup that was born in Riga and now raised in London, has announced $4.5 million in funding to accelerate its growth. LAUNCHub Ventures and Hoxton Ventures led the round, while HCVC (Hardware Club) and Change Ventures also participated.
The UK-based company offers a subscription service for its robotic camera, which lets real estate agents and brokers skip a professional photographer and generate high resolution photographs, accurate floor plans and virtual tours — then publish the listing in 24 hours.
Given that home viewings and real estate deals are moving online during the pandemic, it’s clear why such a service would be attractive to users and investors. But the company was growing quickly even before the coronavirus hit.
“Subscriptions grew 800 percent in 2019 and will be even higher in 2020,” said Mikus Opelts, CEO of Giraffe360.
Founded in 2016 by Mikus and his brother Madars, the company has grown to 70 employees, serving customers in 26 countries, including big industry brands such as RE/MAX, CBRE and BNP Paribas Real Estate. Previously the company raised £1 million in a seed funding round back in early 2019.
As for the camera, it uses a high-specification sensor, LIDAR laser technology and robotics, and costs £399 per month.
Photo: Giraffe360 team