BIG DATA
BIG DATA
BIG DATA
TestFit raises $2M for new breed of building design software
TestFit Inc. said Thursday it has raised $2 million in seed funding for its building configuration software that uses co-creation principles to combine human knowledge with algorithms. The goal: to design prototypes of multifamily housing units based on generative design.
Generative design is an iterative automated design process in which constraints are defined by the user and the software creates models that fit within them. The designer continually redefines constraints and generates new models until the best choice is reached.
“It’s a disruption on the way designs are created in the early stages,” said Jesse Coors-Blankenship, managing partner of Parkway Venture Capital LLC, which is underwriting TestFit’s initial round. “Instead of defining specs in a spreadsheet and then waiting two weeks for an architect, you can see as many options as you want and optimize from there.” Coors-Blankenship previously founded Frustum Inc., a generative design firm that was startup acquired by PTC Inc. for $70 million in 2018.
The market for generative design software, though still small, is expected to more than double to $275 million in 2023 from $111 million today, according to MarketsandMarkets Research Private Ltd.
Dallas-based TestFit, which currently employs just four people, said it plans to use the funds to expand beyond multifamily housing developers into architectural, general real estate development and general contractor markets.
TestFit said its software enables site reliability and feasibility planners to run simulations using a wide assortment of parameters, swap building types, generate schemes and conduct multisite urban planning. Users can change unit styles, move amenities into specific locations and create customized parking facilities. Designs can be analyzed for the impact of shadows and highlights, which can be important zoning considerations.
Parkway Venture Capital is a boutique venture capital firm that was founded last year to support early-stage ventures in software as a service, sustainability, artificial intelligence, property technology, engineering and medical technology.
Image: TestFit
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