Hoban Actively Invests in AI-Based Architectural Auto-Design Startups

[Asia Economy Reporter Lee Chun-hee] Hoban Construction and its accelerator corporation Plan H Ventures are increasing their investment in AI-based architectural automatic design startups.

On the 11th, Hoban Construction announced that it will make additional investments in Ten Eleven, which possesses AI-based architectural automatic design technology, along with Hyundai Construction and Vibe Company.

Ten Eleven, which the three companies are making follow-up investments in, is a startup that developed the ‘BuildIt’ solution that automates architectural design using AI technology. The BuildIt solution automates complex and repetitive architectural design processes, enabling the creation of hundreds of design proposals at once. Through this, the feasibility work for development projects in the planning design phase, which previously required more than five days, can be shortened to within one hour.

In fact, the layout plan derived through the BuildIt solution was recently selected as the final plan for the redevelopment project of Bulgwang 5 District in Eunpyeong-gu, Seoul, and also won the grand prize at the 3D Landscape Review Technology Contest hosted by the Ministry of Land, Infrastructure and Transport.

Previously, Hoban Construction and Plan H discovered Ten Eleven through open innovation in 2019 and conducted initial investment and technology development. Hoban Construction provided a testbed by applying the BuildIt solution to actual projects and supported securing research and development (R&D) funds through linkage with the Ministry of SMEs and Startups’ technology startup support program, the 'TIPS Project.'

With this investment attraction, Ten Eleven succeeded in more than doubling its company value and securing follow-up investments worth about 2 billion KRW in just over a year after the initial investment by Hoban Construction and Plan H.

A Hoban Construction official said, "We will accelerate the application and expansion of the architectural automatic design solution together with Ten Eleven," adding, "We will continue to discover capable startups through open innovation to promote innovation in Hoban Construction and the construction sector."