Modulous has raised $11.5 million of Series A funding to further grow its physical and digital technologies.
Investors that participated in the round include SFV, Patrizia, Regal London, CEMEX Ventures, Blackhorn Ventures, GroundBreak Ventures, Goldacre, and Leela Capital.
Construction technology company Modulous helps developers and construction firms build modular housing without capital-intensive factories.
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. Its end-to-end platform enables 50% faster project delivery.
Modulous also announced that it had appointed Sam Gioia as Head of U.S. Manufacturing.
Philip O’Connor, Co-Founder and Managing Partner at Blackhorn Ventures, said: “Construction, an industry largely unchanged for more than 100 years, is ripe for evolution. Much like the transportation and energy industries, sector-specific innovation relies on a blend of digital and physical technologies that improve productivity and accelerate a net-zero future. Modulous’ low-capex, asset-light approach has significant scalability potential, which is why Blackhorn Ventures is so excited to invest in this world-class team.”
Modulous plans to use the new capital proceeds to scale its construction software platform.......