Hover, a Los Altos, California-based company quietly working on some nifty 3D computer vision technology, has raised $4 million in new equity funding, according to a regulatory filing.
Billed as a computer vision and 3D mapping venture and founded by a team of former Navy SEAL operators and Silicon Valley computer vision software entrepreneurs, Hover essentially uses existing 2D imagery to generate photo-realistic, geo-referenced 3D models of buildings and other real-world infrastructure (see render in image above).
Hover says its software basically converts any available imagery into 3D models, providing users with more effective ways to communicate, plan, and make decisions.
The company’s CTO is none other than Ed Lu, an American physicist and former NASA astronaut who enjoyed an extended stay aboard the International Space Station, only to move on to lead the Advanced Projects Group at Google (where he was responsible for imaging for Google Maps, Street View and Earth).
According to Hover CEO Kevin Reilley’s LinkedIn profile, the firm has been serving the U.S. military and Federal Agencies for several years. Listed as Hover’s founder is A.J. Altman, an ex-Intel engineer and U.S. marine.
According to another SEC filing, the company had previously secured a $2.1 million equity round of funding that was part of a larger, $3.1 million round of financing closed last October.
Based on those reports, Hover has raised $7.1 million to date.
According to Bloomberg, its known backers include Almaz Capital, De Anda Capital and McKenna Management.
We’ve reached out to Hover to learn more about this round.
Image credit: Hover
via The Next Web http://thenextweb.com/insider/2013/03/13/stealth-3d-mapping-technology-startup-hover-raises-4-million-more/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+TheNextWeb+%28The+Next+Web+All+Stories%29
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