VC in 3D: Mantis Vision Looks to Keep 3D Space Hot
June 20, 2014
Mantis Vision, a developer of advanced 3D-enabling technologies and solutions, has secured $12.5 million in funding from Qualcomm Ventures, Lab IX, Sunny Optical Technology Co. and Samsung. Mantis Vision has built MV4D, a scalable platform that has the ability to capture, edit and experience 3D data at scale for mobile devices. This ingredient technology enables manufacturers to develop 3D-enabled mobile devices, coupled with APIs and SDKs, that in turn help developers quickly build consumer-facing applications on top of the MV4D platform. The investment offers Mantis the flexibility to expand quickly and strategically, as well as fuel adoption and engagement directly with consumer audiences worldwide.
Mantis Vision is one of 28 companies involved in the 3D space to get VC funding so far this year, according to the PitchBook Platform. In general, the 3D space has been quite hot lately, seeing an increase of 25% in venture capital invested from 2012 ($219 million) to 2013 ($273 million). In that same timeframe, the median post-money valuation of companies getting funding almost doubled from $11 million to $20 million.
Last year's activity was boosted by several companies that landed large financings, including Oculus VR, a virtual reality gaming company that raised $75 million (led by Andreessen Horowitz), and Shapeways, a 3D printing marketplace that raised $30 million (also led by Andreessen Horowitz). Other notable deals include Formlabs ($19 million) and Movidius ($16 million). Of the 366 VC deals that 3D companies have completed since the beginning of 2008, a majority have fallen into the IT sector (54%), with healthcare (18%), B2C (13%) and B2B (12%) following behind.