qbiq, a platform that utilizes generative AI and visualization for real estate space planning, has announced that it secured $10M in seed funding from various strategic investors, including JLL Spark Global Ventures, 10D, Ocean Azul, Randomforest, and M-FUND. This funding will support qbiq's growth and expand its presence in the US market.
The real estate industry relies on space planning decisions based on fit, cost, and ROI optimization. However, traditional architectural planning is time-consuming and creates bottlenecks in real estate transactions. Architects manually draw space plans using tools like AutoCAD, which is a lengthy and inefficient process.
qbiq's generative AI and visualization platform offers advanced technology for space design and optimization in real estate. It can generate optimized layouts and 3D visualizations within minutes, a significant improvement compared to the weeks it used to take. The platform allows users to input space layouts and design requirements, providing tailored planning packages that unlock the full potential of a space. qbiq enables brokers, landlords, and architects to make faster decisions, close deals more efficiently, reduce vacancy rates, and increase planning capacity.
"In an industry where the last significant technological leap happened over 30 years ago, we are overdue for the next one. We are excited to bring cutting-edge generative AI technology to the real estate industry and pave the way for transformation," said Leeor Solnik, CEO and Co-Founder of qbiq.
JLL Spark's Managing Partner, Raj Singh, also emphasized the benefits of qbiq's AI-based platform in accelerating transaction time and increasing closure rates.
qbiq's platform consists of multiple layers of technology, including an AI layer with architectural planning data and best practices, optimization engines, cloud computing, and a regulation layer. Users can submit their preferences, and the AI engines generate numerous alternatives within seconds. Once the optimal option is chosen, the platform automatically creates high-resolution 3D virtual tours to visualize the new space comprehensively.
Luigi Sciabarrasi, AECOM Senior Vice President, Global Real Estate, praised qbiq for its ability to produce test fits in 24-48 hours, significantly reducing costs and facilitating quicker decision-making.
"qbiq enables us to produce test fits in 24-48 hours instead of one to two weeks, facilitating quicker decision-making and reducing costs for our team. It's the most effective technology we've experienced for rapidly generating space plan scenarios," he stated.
qbiq has delivered over 150 million square feet of AI-designed office space layouts to global users, including major industry players like JLL, CBRE, Colliers International, Cresa, Perkins & Will, AECOM, and Avison Young. Demand for qbiq's planning services has been snowballing, with tripled demand every few weeks and a quadrupled user base since the beginning of 2023.