#USA #Tel Aviv #Insight Partners #architecture #qbiq AI

qbiq AI Secures $16 Million in Series A Funding

qbiq, a pioneer in automating architectural planning, recently announced a significant milestone—raising $16 million in a Series A funding round led by the well-known global software investor, Insight Partners. This funding is poised to meet the growing demand for qbiq's innovative automated solutions.

The company, established to transform how spaces are designed and visualized, emphasizes user-friendliness and accessibility. Its software enables both architects and non-architects to create detailed floor plans and renderings effortlessly. By inputting essentials like seating capacity and preferred materials, users receive a comprehensive design package that includes optimized layouts, architectural programs, 3D visualizations, quantity estimates, and Revit/CAD models, significantly streamlining the design process.

The Rise of Automated Architectural Solutions

Since its launch, qbiq's impact has been transformative. Customers have generated floor plans and visualizations covering over 37 million square meters in mere hours, drastically reducing the weeks or months typically needed for manual layout creation. This technological advancement allows for quicker decision-making and shorter business cycles, benefitting real estate agents, property managers, architects, and co-working chains alike.

Leeor Solnik, the CEO and co-founder of qbiq, expressed pride in the company's achievements, particularly its ambitious goal of delivering 100 million square feet (approximately 9 million square meters) by 2023, a target that was initially deemed unrealistic. By 2024, they had achieved quadruple this goal and are now on track to reach 1 billion square feet.

Insight Partners' Strategic Investment

Liad Agmon, Managing Director at Insight Partners, not only led the investment but is also set to join qbiq's Board of Directors. Agmon highlighted the challenges faced in the industry, recounting the cumbersome process of determining the suitability of vacant spaces for specific needs, often extended across multiple weeks. He praised qbiq's innovative solution that saves valuable time and resources for all stakeholders involved. Agmon projected that with qbiq's AI solutions, the architectural planning landscape is on the brink of a groundbreaking transformation.

The historical reliance on manual processes has hindered the efficiency of architectural planning and prolonged business cycles. Traditional tools like AutoCAD demand meticulous, time-consuming efforts to develop layouts, challenging even for trained professionals. The creation of visual clarity through rendered tours and images traditionally required extensive resources and time, discouraging many projects.

qbiq's platform has emerged as a remedy to these long-standing inefficiencies. It empowers real estate experts—including brokers, property owners, developers, and tenants—to visualize spaces rapidly while accommodating both basic and complex needs. Companies like Brookfield Properties, JLL, Skanska, and IWG have already leveraged qbiq's software to produce a variety of architectural outcomes in a fraction of the time previously required.

About qbiq

Founded in 2019 by Leeor Solnik, Elad Kaminer, Noam Diamantstein, and Roey Granot, qbiq operates out of Tel Aviv, with offices in New York and Miami. The company’s mission is to democratize architectural planning through generative AI, facilitating informed decision-making for tenants, speeding up project closures for brokers, enhancing ROI for landlords through reduced vacancies, and increasing the planning capacities of architects.

qbiq is well on its way to changing the real estate landscape, having already delivered approximately 37 million square meters of designs to clients globally. More information can be found at qbiq.ai.

About Insight Partners

With a significant portfolio in the tech space, Insight Partners invests in software, technology, and Internet startups aiming to drive transformative change across various industries. As of June 30, 2024, the firm manages over $80 billion in assets and has successfully taken over 55 portfolio companies public. Based in New York, Insight Partners is dedicated to identifying, funding, and collaborating with visionary leaders, offering tailored software expertise to fuel their growth from investment to IPO.