Modulous, a London, UK-based construction-technology startup, announced that it raised £10 million ($11.5m) in Series A funding.
Investors in the round include Patrizia-backed Sustainable Future Ventures (SFV), Regal London, CEMEX Ventures, Blackhorn Ventures, GroundBreak Ventures, Goldacre, and Leela Capital.
The fund will use to further develop its physical and digital technologies for asset-light that enable developers, architects, and contractors to build net-zero modular homes without a factory.
“Building energy-efficient, affordable housing without the waste and carbon footprint that accompanies traditional construction has never been more critical,” said Modulous CEO Chris Bone. “Modular delivery is really the only way the housing crisis can be resolved, but, for many, the upfront capital investment has held back the industry’s ability to scale."
The Modulous technology platform aims to solve major pain points across the three core areas of the home building process: architecture and design, construction, and development.
Company: Modulous Limited
Round: Series A
Funding Month: September 2022
Lead Investors: Sustainable Future Ventures, CEMEX Ventures, Blackhorn Ventures, GroundBreak Ventures, Goldacre, and Leela Capital
Company Website: https://www.modulous.com/
Software Category: ConTech Design Solutions
About the Company: Founded in 2018 by a diverse team of technology, business, and construction industry specialists, Modulous is digitizing design and reimagining construction to enable sustainable, affordable homes to be built more quickly and economically on a global scale. Designs are based on its proprietary Kit of PartsTM, which is a collection of sub-assemblies sourced from the established supply chain and assembled to create modular homes in on-site facilities. Its goal is to eliminate the world's 500 million-home deficit while improving industry efficiency, eliminating waste, and raising quality and performance standards. At the concept stage, the company's software delivers highly engineered design solutions, detailed cost information, and precise programs, completely reshaping the risk/reward equation for landowners and developers. It offers its solutions to architects, suppliers, contractors, designers, and more.