Tuesday, 20 April 2021 11:35

Archistar raises $6M in latest funding round

By
Archistar founder Benjamin Coorey Archistar founder Benjamin Coorey

Australian property intelligence platform operator Archistar has raised $6 million in a funding round led by Skip Capital (co-headed by Atlassian co-founder Scott Farquhar) and AirTree Ventures (which was founded by former Microsoft Australia managing director Daniel Petre).

Founded by architect Benjamin Coorey, Archistar combines architectural design with artificial intelligence to assist with development decisions.

The platform is used by governments, architects, planners, developers and agents, to help determine the highest and best use residential and commercial projects allowable on any development site in Australia based on local planning and zoning rules.

It enables the creation and assessment of hundreds of compliant 3D generative designs, taking into consideration parameters including height restrictions, exposure to sunlight and ventilation.

Launched in 2018, Archistar has doubled its revenue year on year, and the platform is now used by the Victorian and NSW governments as well as property developers such as Stockland, Frasers and Simonds Homes.

ITWIRE ARCHISTAR FUNDING ROUND SCREEN GRAB

AirTree led Archistar's series A round in March 2020.

Coorey said the latest investments would help with the company's expansion in the UK and US, as well as the continued development of its eComply automatic development assessment technology.

"Our vision has always been to transform the way cities are designed, assessed and built, and we're pleased to say that we are achieving this as more property professionals and governments are increasingly embracing our digital tools. Our highly scalable, world-first technology, is transforming the efficiency of every step in the property development journey for our partners," said Coorey.

"We've experienced incredible growth in the last twelve months, and with this additional funding, we anticipate that even more milestones will be hit in overseas markets. We're excited to see where this next growth chapter takes us."

He added "We're delighted to welcome yet another banner investor, Skip Capital, to the register. This investment will underpin Archistar's expansion into the United States and United Kingdom, where the company will combine highly scalable, world-first technology with key partnerships to continue its rapid customer growth."

Skip Capital founder Kim Jackson said "We are excited to work with Archistar. They are a phenomenal and passionate team, driven by the vision to simplify property development and design. Their innovative solutions have the power to transform the entire property industry globally.

"The team has created a central hub for property data, which is helping property professionals to more easily find sites matched to their needs. On top of this, Archistar is innovating with 3D generative design, and we believe the partnership with the Victoria State government to demonstrate how planning approval processes could be automated in certain geographies is extremely exciting, and a sign of the future."


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Stephen Withers

Stephen Withers is one of Australia¹s most experienced IT journalists, having begun his career in the days of 8-bit 'microcomputers'. He covers the gamut from gadgets to enterprise systems. In previous lives he has been an academic, a systems programmer, an IT support manager, and an online services manager. Stephen holds an honours degree in Management Sciences and a PhD in Industrial and Business Studies.

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