Australian PropTech firm LARKI, a 3D laser scan and city model provider, has received a major pre-seed investment from private equity firm Nightingale Partners and Yellow Octopus’ recently exited e-commerce founder, Derek Sheen.
The $1.4 million investment will provide LARKI with strong foundations to expand its platform and 3D data provision to architects and the wider property industry. Currently servicing major metros on the east coast of Australia, for LARKI this means expansion on an international scale.
“This backing from Nightingale Partners has come at just the right time, allowing us to drive forward plans to make LARKI synonymous with high-resolution 3D city models online, here in Australia but soon all over the world,” LARKI co-founder and CEO Simon Cookes said.
LARKI is a four-year-old business co-founded between Cookes – an architect, researcher and teacher – and ex-CSIRO software engineer Daniel Moore, with offices in Melbourne and Sydney. It is a high-resolution, laser scanned version of 3D Google Earth Pro for architects, property developers and planners.
LARKI enables architects to get a precise 3D representation of their sites downloaded in minutes to help speed up their designs. Government planners have detailed and measurable site information so they can make quick approvals, speeding up the main bottleneck in property development and holding cost drain. SME property developers planning to build can save months and tens of thousands off their projects.
“I liked LARKI’s cloud-based information platform for architects, which will make design and approval processes easier and faster. We’re excited to be involved with co-founders of great quality and with an excellent blend of experience,” Nightingale Partners chairman, managing director and lead investor Lindsay Phillips said.
Revenue has doubled within the last 12 months and a new office is soon to open in Brisbane. LARKI’s clients include JLL, the Victorian government, Deakin University, MAB and Architecture Institute Gold Medal winner John Wardle Architects.