CONIX.AI, a design tech startup founded in Egypt, uses AI solutions to enable architects and developers to generate designs.
CONIX.AI has announced the closing of a USD 1.3M pre-seed round led by BIM Ventures to fund their expansion into Saudi Arabia and further product development. Saudi Arabia is the next step for the company given the country’s huge potential in the real estate sector.
CONIX.AI: AI-based platform
Founded in 2020 by Yusuf Fahmy, CONIX.AI allows real estate developers and architects to generate designs and adaptive materials through its platform using its AI-based solution. Users can evaluate the validity of building sites and assess multiple scenarios in just a few minutes, produce design possibilities for a given sites, and optimize spaces while lowering their environmental impact.
CONIX.AI uses AI while leveraging both parametric and generative design principles to create an optimization approach that provides adaptive modelling of sites and spaces. The system covers the entire journey from the early planning phase up to facades and internal details of the room split with walls, doors and fenestration.
McKinsey: AEC industry one of the world’s least digitized
McKinsey reports that the architecture, engineering and construction (AEC) industry is one of the least digitized industries in the world and the USD 3.3 billion global architectural design market is lacking in digital design options. According to CONIX.AI, recent studies show that less than 2% of residential buildings worldwide are designed by architects, presenting a significant opportunity to the company.
Yusuf Fahmy, Founder and CEO said, “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, underlined the company’s USPs, “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.”
CONIX.AI’s interest in the Saudi market intersects with their strategy to invest in PropTech, which creates additional tangible value. Funders BIM Ventures have achieved several milestones with PropTech investments and the investment in CONIX.AI is a step forward in enhancing synergies in the field.
Software startups continue to represent a significant market for investment across the MENA region.