VR Proptech Shop Giraffe360 Gets €1.1M Funding

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VR Proptech Shop Giraffe360 Gets €1.1M Funding
January 24, 2019

Founded in Latvia, Giraffe360 is a specialist digital photography service for showcasing property. The growing startup has moved its headquarters to London despite the uncertainty of Brexit, and has just secured €1.1 million in its second funding round led by Change Ventures. The startup previously raised €500k in a seed round led by Koha Capital.

 

Giraffe360 has developed technology to give 3D virtual reality tours of real estate. Since the creation of its first prototype in 2016, the startup has developed the highest quality property presentation technology in the world, delivering 270 megapixel resolution photography. It’s client base now spans the UK and seven other European countries, including estate agents such as Hunters, John Taylors and RE/MAX.

 

The latest funding will be used to launch the next generation of Giraffe360 technology and to continue expanding the business in the UK and across Europe.

 

Giraffe360 CEO, Mikus Opelts, could have chosen any city in Europe to relocate his startup from Latvia, but chose London, as he believes that it is still the best place in Europe to run a tech business.

 

“We are thrilled to be closing this funding round and to be moving our headquarters to the UK,” said Opelts. “London is one of the biggest real estate markets in the world and Brexit or no Brexit, London will remain one of the most well connected and diverse global cities, with a supportive business ecosystem and competitive market. I don’t believe this culture will change.”

 

“We are excited to be backing Giraffe360,” said Andris K. Berzins, Managing Partner at Change Ventures. “In a world of diminishing physical contact and rising online and e-commerce activity, consumers are demanding a better visual experience – and they’ve a right to. The property industry is experiencing unprecedented developments and agents who listen to consumer demands for a tech-led home-selling strategy are already seeing the benefits. London is at the forefront of the global proptech scene and we as investors have a strong belief in the Giraffe360 team and its ability within this market to lead change.”

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