Archistar has secured AUD 11m in its latest funding round and also acquired Snaploader, which provides interactive 3D experiences for the real estate industry. The funding was raised from several investors, including NAB Ventures, Skip Capital and Skyfield Capital. Archistar plans to use the capital to expand its product offering and launch in the US. The property intelligence platform was launched in 2018 and provides instant information to architects, planners, developers and agents on the types of residential projects permitted on a site, based on local planning and zoning rules.
“We’re very pleased with the results of this latest funding round which helps extend Archistar’s product offering. We are very excited by the new technology we are building and having the support from strategic investors helps us continue to scale our world-first technology internationally,” Archistar Founder and CEO Dr Benjamin Coorey said.
It plans to launch in Dallas and expand into Florida, California, North Carolina, Arizona and Virginia in the coming year. Archistar’s acquisition of Snaploader will enable it to expand its product range to include the selling and marketing process of properties. The technology allows the visualisation of off-the-plan projects in residential, commercial and industrial buildings, to streamline the selling process. The platform is already used by major real estate companies such as Charter Hall, Knight Frank and Colliers International.
