Archistar, a Sydney, Australia-based property intelligence platform, closed a $6m Series A funding.
The round was led by AirTree. As part of the investment, Craig Blair, Co-founder and Partner at AirTree, will join the board.
The company intends to use the funds to accelerate its international growth and expand its product and engineering team.
Founded by Dr. Ben Coorey, Archistar combines architectural design with artificial intelligence to inform decision-making in property. Used by architects, planners, developers and agents, the software gives instant information on the type of residential projects allowable on any development site in Australia based on local planning and zoning rules. It allows professionals to create and assess hundreds of compliant 3D generative designs, exploring features like height restrictions, exposure to sunlight and ventilation.
Since launching in 2018, the company has signed real estate groups including LJ Hooker, Ray White and Harcourts, along with developers, engineering and architectural firms like Mirvac, GPT Group, Stockland, CBRE, Hassell and Aurecon.
Archistar’s early stage investors include former Chairman of REA and CEO of NewsCorp Australia Peter Tonagh, former CoreLogic Managing Director Graham Mirabito, former CBRE Australasia President Tom Southern and former Managing Director Murdoch Media Prabhat Sethi (who is also Chairman).