Construction tech firm Modulous has raised £10m through Series A funding to help developers build net-zero modular housing without factories.
The funds were raised from Sustainable Future Ventures, the venture capital fund backed by Patrizia, Regal London, Blackhorn Ventures, GroundBreak Ventures, Goldacre, Leela Capital and the venture capital arm of Cemex.
Modulous expects to partner with developers, public housing providerws, architects and construction firms offering them a software platform which automates design, costing and programming. The platform will allow contractors to figure out pricing and decide whether a site is viable in hours rather than weeks.
Chris Bone, chief executive of 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 centre.”
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