CONIX.AI raises $1.3 million pre-Seed round led by BIM Ventures
- UK-based and Egypt-born design tech CONIX.AI has raised $1.3 million led by BIM Ventures, announcing the commencement of its commercial activities in Saudi Arabia.
- Founded in 2020 by Yusuf Fahmy, CONIX.AI enables real estate developers and architects to generate designs and adaptive materials through its platform using its AI-based solution. It enables users to evaluate the validity of building sites and assess multiple scenarios in just a few minutes, produce design possibilities for a given sites, and optimise spaces while simultaneously lowering the environmental impact.
CONIX.AI announced the closing of a $1.3M pre-seed lead by BIM Ventures, for their expansion into Saudi Arabia and further product development.
Saudi Arabia was the market of choice that CONIX.AI decided to start their global commercial activities due to the huge growth potential in the real estate industry in the region.
Using artificial intelligence and generative design, CONIX.AI provides real estate developers and architects with complete architectural designs in a matter of minutes instead of weeks. CONIX.AI employs Artificial Intelligence while leveraging both parametric and generative design principles to create an evolutionary optimisation approach that provides adaptive modelling of sites and spaces. From urban scales to building and unit scales, the solution not only covers the early planning phase but walks the entire journey from the get-go, up to facades, not to mention the smallest details of a room split with walls, doors and fenestration.
The company, founded in 2020 and preceded by three years of extensive research and development, hails itself as one of the earliest companies worldwide that managed to put this very sophisticated and innovative technology at the fingertips of real estate developers and architects.
CONIX.AI comes at a good time; a recent study by Mackinsey shows that the AEC industry is one of the least digitised industries in the world, which means that CONIX.AI has a lot to add to the already huge $ 3.3b global architectural design market and can potentially form a completely new era in this highly innovative industry. Also, recent studies show that less than 2% of residential buildings worldwide are designed by architects; that means the potential is limitless in this untapped market!
Yusuf Fahmy, Founder and CEO stated: "We are transforming the architect's job, making their work more efficient. With CONIX.AI, architects can provide their clients with several custom-made iterations to choose from on the same day! Also, real estate developers can take investment decisions instantly using CONIX.AI internally with their in-house architectural team."
Hani Farrag, Co-Founder and CCO, emphasized: "The company seeks to make the most of the latest technology to help assess potential construction sites, with a rich set of viable design capabilities and carefully calculated remodeling options, facilitating the real estate developer's investment decision-making process." He also added that: “CONIX.AI is now open for business with real estate developers as clients and soon will be for architects as well.”
Mohamed Amine Merah, BIM’s Founder and Managing Partner, stated that this investment was a result of the company's aspiration to attract talents and smart technologies from outside the Kingdom.
CONIX.AI - United Kingdom – with their interest in entering the Saudi market intersects with our strategy to invest in PropTech, which creates additional tangible value; it is worth noting that BIM Ventures has achieved several milestones with PropTech investments, which makes the investment in CONIX.AI a step to enhance synergies in the same field.
CONIX.AI will also enable users to quickly evaluate the validity of building sites and assess multiple scenarios in just a few minutes, produce several design possibilities for a given site up to the smallest details, and optimise spaces while considering the environmental aspects. Using CONIX.AI will save time and effort, resulting in a fast and data-driven decision-making.