BuiltWorlds member 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 BuiltWorlds member CEMEX Ventures, the venture arm of construction giant CEMEX, BuiltWorlds member Blackhorn Ventures, SFV, the venture arm of German real estate developer Patrizia, Regal London, one of the U.K.’s most highly-regarded real estate developers, 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.
The Modulous software platform automates multifamily real estate project design, costing and programming – meaning developers, architects, and contractors can figure out pricing and decide whether a site is viable in hours, not weeks. In addition, Modulous has developed a configurable Kit of Parts, which is a set of proprietary sub-assembles that allows developers, architects, and contractors to build modular homes without a fixed factory. The company’s end-to-end platform enables 50% faster project delivery, 60% reduction in embodied carbon, and 70% reduction in construction waste.
Modulous CEO Chris Bone will be a featured speaker at our upcoming Venture East Conference in Miami, FL on November 15-16th. BuiltWorlds Venture Conference has been the world’s premier conference focused on venture investing in construction and built environment-related emerging technology. Leading fund investors, strategic investors, and startups gather each year to take the pulse of the industry’s startup ecosystem at the BuiltWorlds Venture Conference. Hope to see you there!
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