April 12, 2018 / 1:00 PM / 4 months ago

Sweden's Mapillary raises $15 million in funding round led by BMW i Ventures

STOCKHOLM, April 12 (Reuters) - Malmo-based Mapillary, which runs a street-level imagery platform that extracts and analyses map data using computer vision, said on Thursday it had raised $15 million in a series B funding round led by BMW i Ventures, to scale smart map data collection.

* Samsung Catalyst Fund and China’s NavInfo and existing investors Atomico and Sequoia also participated in the financing round

* Mapillary will use the capital to accelerate global map data collection and ramp up automotive-specific integrations of its computer vision technology

* “The technology is increasingly interesting to the automotive industry, as the global market for driverless cars is set to surge to $127 billion by 2027,” Mapillary said in a statement

* Says currently serves 22 billion map objects in over 190 countries, while clients include Volkswagen Group and The Red Cross

* Including the new funding, Mapillary has raised $24.5 million in total (Reporting by Helena Soderpalm; editing by Johannes Hellstrom)

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