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- Australian property intelligence platform Archistar has secured $6 million in funding to accelerate its international expansion plans
- The funding round was led by Skip Capital, a private investment fund that focuses on high growth technology companies and VC fund AirTree Ventures
- AirTree doubled down on their investment as an existing shareholder of Archistar, having led the company’s Series A round in March last year
- The platform integrates artificial intelligence with architectural design software to enable developers and organisations to assess the potential of buildings and sites
- Skip Capital founder Kim Jackson said she saw the raise as a great opportunity to invest in a company disrupting the property industry
Australian property intelligence platform Archistar has secured $6 million in funding to accelerate international expansion plans.
The platform integrates artificial intelligence with architectural design software to enable developers and organisations to assess the potential of buildings and sites.
The funding round was led by Skip Capital, a private investment fund that focuses on high growth technology companies and VC fund AirTree Ventures.
AirTree doubled down on their investment as an existing shareholder of Archistar, having led the company’s Series A round in March last year.
Since launching in 2018, Archistar said it has doubled revenue year on year and won significant contracts with state governments and works with property developers.
Founder Dr Benjamin Coorey, an Architect with a PhD in 3D generative building design, said the investment would help further accelerate the company’s expansion across key markets in the U.K. and U.S., whilst continuing to develop the 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,” Dr Coorey said.
“Our highly scalable, world-first technology is transforming the efficiency of every step in the property development journey for our partners,” he added.
“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 concluded.
Skip Capital founder Kim Jackson said she saw the raise as a great opportunity to invest in a company disrupting the property industry.
“We are excited to work with Archistar,” she said.
“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,” she concluded.
