London-based construction tech company Modulous has raised £10 million to help developers, architects and contractors build net-zero modular homes without a factory.
The Series A funding was raised from investors, including Sustainable Future Ventures, Regal London, CEMEX, Blackhorn Ventures, GroundBreak Ventures, Goldacre, and Leela Capital.
The startup has developed a software platform that aims to solve major pain points across the three core areas of the home-building process.
It automates the design, costing, and programming so that developers, architects, and contractors can figure out pricing and decide whether a site is viable in hours, not weeks.
The company aims to offer developers, public housing providers, architects, and construction firms a configurable Kit of Parts to build modular homes without needing a factory.
The startup claims its platform enables 50% time saving on project delivery, 60% reduction in embodied carbon, and 70% reduction in construction waste.
Chris Bone, CEO at Modulous, said: “Building energy efficient, affordable housing without the waste and carbon footprint that accompanies traditional construction has never been more critical. 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. We are keen to prove that by collaborating with each other, the industry can move forward with transparency and cost certainty front and center.”
Read more on Tech Gist Africa:
London-based mental health startup, Thalamos picks up €1M
London-based Virtual Fertility Clinic Apricity has raised €17M