OpenSpace, a platform that is helping structure teams track the progress of structure projects by capturing 360-degree images from the structure’s sites, raised $15.9 million in a B-Series investment circular directed through Menlo Ventures.
Although the structure industry has never been known for its efficiency, virtual generation plays a central role in restoring the $11 trillion industry from the COVID-19 crisis. The industry has been particularly affected by the pandemic, due to social estrangement measures, however, artificial intelligence and the remote collaboration team facilitate the resumption of some projects by reducing the number of other people who will be there.
Founded in 2017, San Francisco-based OpenSpace uses AI to create 360-degree navigable images of fabric sites. The software works in conjunction with a 360-degree camera, which site administrators place on their hats to document the evolution of a site. All photos are sent to the cloud, where computer vision and synthetic intelligence are organized, gathered, and assigned photographs to assignment plans.
These images allow all stakeholders to track progress remotely through virtual site journeys and can also allow parallel conflict comparisons.
The company also recently introduced a new set of analytics equipment called ClearSight, which comes with a host of AI-based features. These come with object search, which allows site administrators to locate an object in a particular scene and locate similar items elsewhere in the site.
OpenSpace had raised around $17.5 million in the past, the peak of which came here from its Serie A less than a year ago. With another $15.9 million at the bank, the company said it was now well funded to “meet the growing demand” of its platform.
OpenSpace told VentureBeat in May, the day after global shutdowns, that it had noticed a 400% increase in “fieldnotes” or comments made remotely on an assignment image. The company also reported a 65% increase in the number of Internet viewing sessions and a 37% increase in photo captures.
To meet this growing demand, OpenSpace has also accelerated a new loose edition of its service, called OpenSpace Photo, which is similar to its core product, which does not come with automated intelligence and is intended for small projects.
Similar corporations operating in the area come with London-based Disperse, which raised $15 million late last year.