London-headquartered modular housing start-up, Modulous, has established a US base in Seattle led by four former executives, all women, of Katerra, the high-tech modular pioneer that went bust in June this year.
The move came after Modulous raised $6.9M from venture capital firms including Blackhorn Ventures. Investors have also included Cemex Ventures, GroundBreak Ventures, Goldacre and the UK government’s Future Fund.
The company has developed a digital design platform and a proprietary kit of parts for housing schemes that it shares with developers or licenses to general contractors.
“With a nationwide shortage of more than five million homes, there has never been a greater need to accelerate housing development in the US,” said Modulous co-founder and chief executive Chris Bone.
Unlike Katerra, which invested in factories around the US before collapsing under debt amid the pandemic, the Modulous approach is “asset-light”, with manufacturing and installation outsourced, Bone said.
Modulous has developed a kit of parts for multi-family housing, with the manufacture of components outsourced (Courtesy of Modulous)
“Avoiding capital-intensive factories, we instead focus on empowering developers, architects, and contractors with the information, products, and processes to do their jobs better. We give them real-time access to the data, building components, and service providers they need to develop high-quality housing at the speed and scale that society requires.”
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Gary Fleisher is Editor in Chief of Modular Home Source. Email at [email protected]
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