Giraffe360, the specialist digital photography service for showcasing property, has secured £1m in second round funding, led by Change Ventures. The growing start-up has moved its headquarters to London despite the uncertainty of Brexit.
Since the creation of its first prototype in 2016, Giraffe360 has developed the highest quality property presentation technology in the world, delivering 270 megapixel resolution photography. It’s solid client base 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.
Award winning Latvian entrepreneur and Giraffe360 CEO, Mikus Opelts, could have chosen any city in Europe to base his business but chose London, as he believes that it is still the best place in Europe to run a tech business.
He explained, “We are thrilled to be closing this funding round and to be moving our headquarters to the UK. London is one of the biggest real estate markets in the world and Brexit or no Brexit, London will remain a well connected and diverse global city, with a supportive business ecosystem and competitive market. I don’t believe this culture will change. We believe in Great Britain.
“The rapidly growing UK PropTech scene is important to us. Real Estate business in the UK is opening its doors for much needed innovation. New PropTech start-ups are launching their solutions every single day. For example The Future PropTech forum held in London has grown from 50 to 1300 attendees in 5 years. The community is vibrant and is leading the way in shifting what is essentially the world’s largest asset class and last industry not yet disrupted by technology.”
Andris K. Berzins, Managing Partner at Change Ventures said, “We are excited to be backing Giraffe360. 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.”
This funding follows an initial £450k seed funding round in 2016, led by Estonian investment fund Koha Capital.