Sydney, 17 February 2023: Archistar’s Founders, Dr. Benjamin Coorey and Robert Coorey, are ranked #29 in Australia’s Top 100 Young Entrepreneurs 2023!
A big thank you to Business News Australia for including us and congrats to the other amazing entrepreneurs on the list – it’s an honour to be ranked among them.
Here’s an excerpt from the article in Business News Australia on 17 February 2023:
Combining 3D architectural design with artificial intelligence to help property professionals make better decisions, proptech Archistar has stripped back hours of manual processes to make lighter work for the likes of Frasers Property, CBRE, Stockland (ASX: SGP), and many more.
The group’s technology also laid the foundation for lucrative compliance contracts by allowing users to create and assess hundreds of compliant 3D generative designs, exploring features like height restrictions, exposure to sunlight and ventilation.
So in addition to Archistar’s major presence in Australia with developers and real estate companies, in 2022 it was able to sign contracts with the NSW and Victorian governments to deliver instantaneous automated planning compliance advice; a feat that was replicated with the City of Vancouver in Canada.
Last year the company, founded by brothers Dr Ben and Rob Coorey, put the figurative scaffolding in place for projects that would take an Australian success story global.
In mid-year the proptech announced an $11 million funding raise backed by NAB Ventures, Skip Capital, Skyfield, AirTree Ventures and other private investors, taking the total amount raised since inception to $31 million.
This helped facilitate the opening of Archistar’s first US office in Dallas, led by former Nearmap (ASX: NEA) executive Shane Preston who had spearheaded the roll-out of that company’s aerial mapping technology company across the Pacific.
The brothers gave their product offering a significant boost around the same time with the acquisition of another Sydney-based company, Snaploader, whose software provides interactive 3D experiences for real estate professionals to simplify property sales and marketing.
“We are raising the bar and creating the experience consumers want. Snaploader is already working with some of the biggest names in the property sector, including Charter Hall, Knight Frank and Colliers International,” Dr Ben Coorey said at the time.
“The unique technology allows the visualisation of off-the-plan projects across residential, commercial and industrial buildings to streamline the selling process.”
One of the key advantages of Archistar’s software is that it gives architects, planners, developers and agents instant information on the type of residential projects permitted on a site, given local planning and zoning rules. This means that expansion overseas requires developing an understanding of laws in any jurisdiction of operation.
Read the full article in Business News Australia.