Occipital pulls in $15 mln Series C


San Francisco and Boulder-based Occipital, a maker of computer vision technologies and products, has secured $15 million in Series C funding. Foundry Group led the round.

PRESS RELEASE

SAN FRANCISCO, Calif., January 23, 2018 – Occipital, Inc. is excited to announce the first close of a $15M Series C funding round to combine its advanced SLAM capabilities with machine learning to create a more complete perception engine for AR/VR and home robotics, as well as continue to grow its existing product lines including Structure Sensor, Canvas and Bridge. The round is being led by existing investor Foundry Group, via their Foundry Group Next fund for later stage financing.

COMBINING THE BEST OF GEOMETRIC VISION WITH MACHINE LEARNING
Last year at Augmented World Expo, Occipital launched “Occipital Tracking”, which uses SLAM technology to provide accurate, low-latency room-scale tracking for VR/AR using as little as a single camera and an inertial measurement unit (IMU).

Since then, Occipital has partnered with leading VR, AR, and home robotics companies to embed Occipital Tracking inside their products launching in later 2018 and 2019. During CES 2018, Misty Robotics announced its partnership with Occipital on their new Misty 1 robot which will use Occipital Tracking for SLAM and navigation and Occipital’s Structure Core for sensing.

“At Misty, we’re building the Apple II of home robots. Occipital’s technology today, along with their future roadmap, makes them the best solution we could find to let our robots see and understand their surroundings,” said Ian Bernstein, Head of Product at Misty Robotics. With the Series C, Occipital is accelerating its efforts to grow Occipital Tracking into a more complete “Perception Engine” by integrating machine learning.

“At Occipital, we’re seeing very promising results by combining the best of geometric vision and SLAM with some of the latest ideas from deep learning,” says Occipital CEO Jeff Powers. “Good SLAM is unmatched in building a geometric 3D model of a space, but machine learning will help us understand the scene semantically, including by recognizing objects and people. We plan to migrate from a tracking solution to a full perception engine that learns from real-world data.”

BUILDING THE BEST TEAM FOR SLAM AND MACHINE LEARNING
With the Series C, Occipital is working to rapidly expand its computer vision team in the areas of SLAM and machine learning. Occipital is one of the few successful startups focused on perception, and has a long track record of building computer vision products for consumers. It has offices in both San Francisco and Boulder. In addition to growing its computer vision team, Occipital is also expanding other areas such as software engineering. Open positions will be listed at http://occipital.com/jobs.

OCCIPITAL NEWS IN THE PAST YEAR
• In October, Occipital announced the acquisition of Paracosm. The Paracosm PX-80, now integrated into Occipital’s overall lineup, and led by President Amir Rubin, allows mapping of large scale environments up to warehouses and city blocks using a Velodyne LiDAR puck. Learn more via via the announcement, or our press release with Velodyne.

• Structure Sensor & SDK has grown to power over 80 third-party apps that let users accomplish anything from 3D scanning for medical orthotics to creating mixed reality apps where virtual content intersects precisely with real-world geometry.

• Occipital’s Canvas application has evolved to let consumers and professionals generate precisely-measured CAD models of anything from a living room to an entire home. Read more on SketchUp’s blog or our latest Newsletter.

ABOUT OCCIPITAL
Occipital makes advanced computer vision technologies and products that are simple enough for everyone to use. Our products include Occipital Tracking, Structure Sensor and SDK, Bridge headset and Bridge Engine, Canvas, TapMeasure, and Structure Core.

Learn more at http://occipital.com.

ABOUT FOUNDRY GROUP
Foundry Group is a venture capital firm focused on investing in early-stage information technology, Internet, and software startups. In addition to providing the necessary venture capital to get a company up and running, Foundry Group is committed to leveraging their experience in starting and growing companies, expertise in the technology industry, and network of relationships to help great entrepreneurs turn great ideas into great companies. Foundry Group is based in Boulder, Colorado, and invests in companies located across the United States. For more information, visit www.foundrygroup.com.