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Sam JoyA real estate and semiconductor manufacturing veteran, he joins as head of Americas manufacturing and assembly.
Seattle, September 12, 2022 /PRNewswire/ — Modulous, a Seattle And LondonAn established construction technology company has announced that it will help developers and construction firms build modular homes without capital-intensive factories. 11.5 million dollars Series A funding to further develop physical and digital technologies. The funding was raised from investors including SFV, German real estate developer Patrizia, Regal London, one of the UK real estate developers CEMEX Ventures, construction giant CEMEX, Blackhorn Ventures (US). , GroundBreak Ventures (Canada), Goldacre (UK) and Leela Capital (UK). The money is a rare example of a technology firm raising its valuation as global markets slide — a sign of growing demand for companies helping to decarbonize the real estate and construction industries.
The Modulus software platform automates the design, costing and programming of a multifamily real estate project – meaning developers, architects and contractors can generate pricing and determine whether a site is viable in hours, not weeks. In addition, Modulus has developed Configurable Kits of Parts, a set of proprietary subassemblies that allow developers, architects and contractors to build modular homes without a permanent factory. The company’s end-to-end platform enables 50% faster project delivery, 60% integrated carbon reduction and 70% reduction in construction waste.
Modulus announced the appointment today Sam Joy As the head of American manufacturing and assembly. Joya oversees the successful US market supply of the company’s modular kit of parts for residential multi-family housing construction. His role is to develop and manage the company’s supply chain partners, who supply parts kits and ensure the manufacturing capabilities of the physical product.
An integrated physical and digital solution for net-zero multi-family housing
With a world-class team such as Microsoft, Google, Catera, Ramball, 3i, WeWork, Rolls-Royce and Netflix, Modulus has developed a software platform that works in conjunction with a kit of parts to solve major pain points around the world. Three main parts of the house building process
- Architecture and Design – Modular software generates optimized designs and assembles them for the site and bases these on a physical kit of parts. This not only provides the technical feasibility of the design, but also provides accurate costs and schedules, all completed within hours. Instead of spending weeks on guesswork, designing plans that may not be economically viable, architects can instead focus on more productive tasks by offering clients a variety of options during the day, increasing their chances of winning work.
- Construction – Modular’s Kit of Parts enables general contractors to deliver multi-storey apartments with no upfront investment. Instead of requiring complex and costly factories, Modulus’ established supply chain partners deliver subassemblies to assembly facilities near the site, increasing margins, hiring local labor and improving working capital efficiency.
- The development-module platform generates 3D visualizations and detailed cost plans and provides developers with real-time analysis of return calculations, allowing them to quickly select sites and establish accurate data-driven land values.
Modulous’ supply chain partners are focused on continuously reducing the parts required, similar to the approach previously taken by the automotive and aviation industries. By monitoring each component, it is possible to measure and calculate the actual carbon content of the project and ensure the use of non-toxic, non-toxic materials.
Chris BoneCEO of Modulus said:
“Building energy-efficient, sustainable homes without the waste and carbon footprint of traditional construction has never been more critical. Modular delivery is truly the only way to solve the housing crisis, but for many, upfront capital investment is lagging behind. The industry’s scalability: mutual Working together, we want to ensure the industry can move forward with transparency and innovation, and that’s why we’re excited to complete this Series A round in an extremely challenging funding environment. It’s a testament to our decades-long commitment to solving housing problems and the amazing team we’ve built.
Sam JoyThe head of US manufacturing and assembly said:
“The AEC industry is at a point where we are beginning to see the benefits of modern construction methods (MMC). The US urgently needs more housing, a clear path to zero-zero development and an approach to home building. MMC processes that integrate new construction with the surrounding environment to achieve standardized manufacturing efficiencies that improve communities.” And it enables all three goals by offering modularity in the form of flexible variations for wall panels, floors and finishes.
Conan LauterpachtPartner at Sustainable Future Ventures, said:
“We’re excited to support the outstanding Modulus team, which brings together experts across design, construction and technology. By combining the basics, Modulus stands out for us as a way to bring together the physical and digital in the built environment. Breaking the ‘kit of parts’ modular solution with a digital design platform. Putting better outcomes for people and planet first.” We are excited to support the company’s mission.
Jonathan SealThe CEO of Regal London said:
“We are delighted to participate in this funding round and enter into a strategic relationship with Modulus. We believe that Modulus is making significant strides in truly disrupting the real estate industry as the sector moves towards delivering net zero developments. In partnership with Modulus, Regal London’s fully integrated delivery model and Modulus technology We are excited to be a part of this journey – bringing innovation together.
Philip O’ConnorCo-Founder and Managing Partner at Blackhorn Ventures said:
“Construction, an industry unchanged for more than 100 years, is ripe for evolution. Like the transportation and energy industries, sector-specific innovation depends on the integration of digital and physical technologies that improve productivity and accelerate a net-zero future. Modulous’ low-capex, asset-light approach maximizes It has the potential to scale, which is why Blackhorn Ventures is so excited to invest in this world-class team.
Mateo ZimmermannInvestment Manager at CEMEX Ventures;
“We’re taking bold steps to try and decongest construction and home building. Off-site precision-engineered homes are a critical way to increase quality, reduce safety issues and cut carbon all at once. A modular” ‘asset-light’ approach that goes directly to suppliers – off-site manufacturing. It eliminates the need for expensive factories, a major obstacle to mass market solutions. to solve together”
Liam PooleHead of Marketing at Knauf UK & Ireland
“Modulus has built an inspiring solution to some of the biggest pain points in construction and development, so we’ve come on board as an early supply chain partner. Their technology removes many of the weaknesses that have long held back innovation and better. Constructor methods (MMC) are being driven as offsite/module values.”
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