Headquarters: California, United States
Countries of operation: 93 countries
31+ billion
square feet captured
1+ billion
images of active projects
46+ thousand
projects globally
180+ thousand
users globally
OpenSpace CEO Jeevan Kalanithi talks about relationship with Taronga Ventures
“The promise of Taronga Ventures is real. The number of customer introductions Taronga Ventures provides is – I don’t know how many – a lot. It’s not easy in our industry just to get connected to customers and Taronga Ventures has been extremely helpful in that. Working with Taronga Ventures is pretty ideal from a CEO’s point of view. What you want from your investor partners is just the right amount of communication. You want them to be there to help you when you need it, but of course it can be tough if your investor is calling you every day with questions. Taronga Ventures has blended that beautifully.”
Jeevan Kalanithi,
CEO & Founder, OpenSpace
Before investment
Prior to Taronga Ventures investment in 2020, OpenSpace was an early-stage company largely focused on the US construction market.
Taronga Ventures strategic support
OpenSpace was part of Taronga Ventures’ RealTechX innovation program cohort in 2020 and RealTechX Singapore cohort in 2021 which together assisted its entry into the Asian market.
Taronga Ventures supported implementations with its strategic investors including PGIM Real Estate, Mitsubishi Corporation, Nomura Real Estate Development and City Developments Limited across projects in multiple geographies.
Value created
OpenSpace’s revenues have grown over 20 times since initial investment in 2020, and its geographic footprint has expanded from the US to over 93 countries.
With the rapid revenue growth and geographic expansion, the company successfully raised US$111 million from institutional investors including PSP Growth, Blackrock and Menlo Ventures.
About OpenSpace
OpenSpace is an advanced reality capture technology that is transforming the built environment by enabling stakeholders to monitor and manage construction projects with unparalleled efficiency. For more information on OpenSpace, visit https://www.openspace.ai/.
Together with Dexus, Groundfloor™ designed a new central delivery point for the building, installing 170 lockers across two individual locker systems. The newly created Delivery Bank is conveniently located between the end-of-trip facilities and the loading dock. The location is ideal for streamlining courier traffic and is easy to access for the tenants.
Source: OpenSpace, July 2024
