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Construction Tech Firm Modulous Raises $11.5 Million To Help Developers, Architects, And General Contractors Build Net-Zero Modular Homes Without A Factory

Sep 12, 2022•about 3 years ago

Amount Raised

$11.5 Million

LondonConstructionReal EstateSoftware

Description

Modulous, a Seattle and London-based construction technology company helping developers and construction firms build modular housing without capital intensive factories, has raised $11.5 million of Series A funding to further grow its physical and digital technologies. The funds were raised from investors that include SFV, the venture arm of German real estate developer Patrizia, Regal London, one of the U.K.'s best-regarded real estate developers, CEMEX Ventures, the venture arm of construction giant CEMEX, Blackhorn Ventures (U.S.), GroundBreak Ventures (Canada), Goldacre (U.K.), and Leela Capital (U.K.). The funding is a rare example of a tech firm increasing its valuation as global markets slide – a testament to growing interest in companies that help decarbonize the real estate and construction industries.

Company Information

Company

Modulous

Location

London, Ontario, Canada

About

Modulous has created the first globally scalable model for the design and delivery of homes. Our goal is to eliminate the global deficit of 500 million homes while improving industry efficiency, designing out waste and raising quality and performance standards. Our software delivers highly engineered design solutions, detailed cost information and accurate programmes at concept stage, completely reshaping the risk/reward equation for landowners and developers. It also ensures best-in-class sustainability standards, with a reporting tool that enables benchmarking against ESG criteria. Designs are based on our proprietary kit of parts, which is a series of sub-assemblies procured from the established supply chain and brought together by our logistics partner to create modular homes in facilities local to site. We are now developing alternative assemblies to suit the global marketplace. By using leading manufacturers to produce our kit of parts, we remove the need for dedicated factories, and we engage and upskill local labour in the assembly process. Our asset-light methodology cuts fixed capital investment, transforms working capital requirements and democratises home building, aligning the interests of all key stakeholders in the construction process.

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Funding Insights

Based on industry data
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech