Talk to The Australian Financial Review, Dr Coorey said Archistar was built using complex software and artificial intelligence algorithms, which he created in the cloud and with a user-friendly interface, so that anyone in the real estate industry can exploit “generative design”.
“If you’re a developer, real estate agent, or architect you don’t need a generative designer with a PhD anymore, you can use these tools,” he says.
“You reduce the risk for these developers and architects from the start by identifying [issues] from the start, then test [different] designs much faster.
“We have had clients working on complex sites that would typically take two to three months to complete [the design for] and we found a solution within a week. “
Archistar is the culmination of more than 15 years of work for Dr. Coorey.
The field of “generative design” – computer aided design – has been his passion since the beginning of his career and he completed a doctorate in the field.
He worked for the large architectural firm Woods Bagot as a global technology consultant, lectured at the university, and even established his own generative design e-learning academy with 40 registered universities and over 80,000 students called Archistar Academy.
Although the software takes about a week to come up with 100 viable designs for complex sites, for simple sites without major restrictions, it can get this job done in as little as 10 minutes.
It also ranks designs and allows users to filter them to rate which they find most appealing.
In addition to commercial and government projects, Dr Coorey said there is a version of the software – Archistar Homes – created for residential projects.
“We work closely with volume home builders who have large subdivisions and have built technology that intelligently matches designs with particular plots of land so the sales team and customers can work in the field. , which really suits the home, ”mentioned.
“It’s like a digital signage village – choose your piece of land, then visualize your home design that will work for you.”
The company has apparently doubled its revenue year on year, and during COVID-19, the business saw an increase in growth as people were unable to travel to see the sites in person.
In 2020, the company went from 20 to 65 employees to keep up with growth.
In addition to Skip Capital and AirTree, the company has a range of individual investors, including former CBRE CEO Tom Southern, Antony Catalano of Domain and former Foxtel CEO Peter Tonagh.
The cash injection will support an offshore expansion for Archistar.
“Their innovative solutions have the power to transform the entire real estate industry globally,” Ms. Jackson said.